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process costing system

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

The cost accounting system where similar units are mass produced. Costs are collected by department and are then assigned to the units produced.

Dictionary

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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