Chapter 20, Problem 8DQ

To determine

It is a method of cost accounting, which is used where the production is continuous, and the product needs various processes to complete. This method is used to ascertain the cost of the product at each process or stage of production.

Production cost report

A production cost report is a comprehensive report prepared for each department independently at the end of a specific period, which represents the physical flow and cost flow of product for the particular department.

To Identify: The cost of product report use controlling and improving operations.