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Which one of the following is the approach that is taken to full costing where all...

Which one of the following is the approach that is taken to full costing where all of the units of output are identical?

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Answer #1

Process Costing : Processs Costing is one of the methods of costing which accumulats all the direct costs and alloactes the indirect costs to the products. In process costing, the costs are ascertained at each level of processing which are manufactured at large quantities. Process costing is used in the industries where the products produced are identical and have a continuous process or repetitive process.

Hence the approach that is taken to full costing where all of the units of output are identicla is Process Costing.

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