Asked by
Kolbie Hennes
on Oct 15, 2024
Verified
Process costing systems are used only by companies that manufacture physical products; companies that provide services do not use process costing.
Physical Products
Tangible items that can be bought, sold, or traded, often contrasted with digital goods or services.
Process Costing
A method of costing used mainly in manufacturing where costs are assigned to batches or work units, useful for homogeneous products.
- Identify the distinctions between process costing and job order costing approaches.
Verified Answer
GM
Learning Objectives
- Identify the distinctions between process costing and job order costing approaches.
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