Asked by
Samuel Bebow
on Nov 17, 2024Verified
When a process cost accounting system records the purchase of materials, the materials account is credited.
Process Cost Accounting
An accounting method used to assign production costs to products based on processes or departments, useful in mass production environments.
Materials Account
An account used in bookkeeping to track costs of raw materials during an accounting period.
- Understand the treatment of indirect materials and factory overhead in costing.
Verified Answer
LC
Learning Objectives
- Understand the treatment of indirect materials and factory overhead in costing.
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