Select the Incorrect Statement Regarding the Cost of Production Report

question 41

Multiple Choice

Select the incorrect statement regarding the cost of production report.

• A) The report consists of two sections,a units section and a costs section.
• B) The report is produced monthly by job or batch.
• C) The cost inputs on the report come from the work in process account.
• D) The report indicates the cost of units transferred out.

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Definitions:

Stakeholder Orientation

The approach of a company that prioritizes the interests and well-being of all its stakeholders, including employees, customers, shareholders, and the community.

Primary

Refers to the first or most significant in order or importance.

Tertiary

Relating to the third level or stage of something; in education, it refers to post-secondary education such as universities and colleges.

Normative Approach

An aspect of ethics that concerns the criteria of what is right or wrong, focusing on the moral standards that guide behavior within a society or organization.