Question

In comparison to a general accounting system, a cost accounting system for a manufacturing company places an emphasis on

a. Large volume operations involving standardized products
b. Total costs
c. Penodic inventory counts
d. Continually updating costs of materials work in process, and fished goods inventories Products and average costs

Answer 1

A cost accounting system for a manufacturing company places an emphasis on continually updating costs of materials, work in process, and finished goods inventories.

Step-by-step explanation:

A cost accounting system for a manufacturing company places an emphasis on continually updating costs of materials, work in process, and finished goods inventories. This is in contrast to a general accounting system, which focuses more on overall financial statements and reporting.

By continually updating costs of materials, work in process, and finished goods inventories, a cost accounting system helps manufacturing companies track the costs of producing specific products. This information is important for making pricing decisions, analyzing profitability, and managing inventory effectively.

For example, a cost accounting system might track the cost of raw materials used in production, the cost of direct labor, and the cost of overhead expenses. By assigning these costs to specific products or inventory items, the system provides more detailed and accurate information about the cost of production.