Which of the following is not a characteristic of the Production Account?

CS Executive · Cost and Management Accounting · PYQS · June 2019
Which of the following is not a characteristic of the Production Account?
(A) Expenses are not classified to ascertain Prime Cost, Factory Cost etc.
(B) It is based on estimated figures of expenses.
(C) It is prepared for each manufacturing department.
(D) No figures of previous period provided.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Cost Sheet

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