Question

A production cost report aids in preparing an income statement by providing data for​ ________. A. period costs incurred during the period B. cost of goods sold during the period C. revenues generated during the period D. various inventory accounts

Answer 1

The correct answer is letter "B": cost of goods sold during the period.

Step-by-step explanation:

The Production Cost Report is the summary of all the costs incurred during a certain period within an organization including the costs of goods sold, raw materials, operating costs, and production costs. One of the main purposes of recording production cost report is determining what is the cost per unit of producing a good.