Question

Which of the following is the costing system used for mass produced like or similar units...

Which of the following is the costing system used for mass produced like or similar units of​ products?

A.

​job-costing systems

B.

​weighted-average costing systems

C.

​inventory-costing systems

D.

​process-costing systems

Business   Accounting   
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Answer #1

Answer:D.process-costing systems

A process costing system is a method used within the manufacturing industry to regulate the total production cost of a unit of merchandise. It is predominantly used in situations where production passes through numerous cost centers. For example, production within a large corporation may necessitate that product move through more than one department, such as procurement, manufacturing, quality assurance and distribution. Each of these departments has its personal budget. As a result, a process costing system must be in place to gather the separate costs assumed by each group.

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