process costing system definition
The cost accounting system where similar units are mass produced. Costs are collected by department and are then assigned to the units produced.
The cost accounting system where similar units are mass produced. Costs are collected by department and are then assigned to the units produced.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.