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Process cost is ascertained and recorded in ________.
- Abalance sheet
- Bprofit and loss a/c
- Cseparate statement
- Dseparate ledger a/c
Correct answer: D
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separate ledger a/c
Process cost is ascertained and recorded in separate ledger a/c. Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production.
Process cost is ascertained and recorded in separate ledger a/c. Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production.