1.

State any four characteristics of Process costing.

Answer»

Characteristics of Process costing :

a) Costs are calculated according to each process and cost per unit is the average cost. 

b) The cost unit in case of process costing is a process. 

c) The goods are manufactured for mass order hence no specific order. 

d) Each process for the total output is the same. 

e) Less Supervision and Control is required as the work is standardized.



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