In process costing there is never a balance remaining in factory overhead that needs to be closed at period end.
This statement is false.
Under the process costing, there is always a finished product at each stage. This then becomes the raw material of the subsequent stage until the final stage of completion is there.
A process costing system always accumulates the costs of a production process and assigns them to the products which are output by the business . A production report is made under the process costing system.
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