What Is Product Costing Information Used for by Managers

question 135

Multiple Choice

What is product costing information used for by managers?

• A)For planning and control
• B)For cost management
• C)To make decisions and strategy
• D)All of these answers are correct.

---

Definitions:

Cost Accounting Systems

Methods and procedures used for collecting, classifying, analyzing, and allocating costs associated with a process, product, or project.

Process Cost System

An accounting system used to track and allocate costs of production in industries where goods are produced uniformly in continuous processes.

Job Order Cost

An accounting method that tracks the expenses of manufacturing a specific job or batch of goods, including materials, labor, and overhead.