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What is the purpose of a process cost summary report? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

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Answer:

The correct answers are letters "A", "B" and "C".

Explanation:

The Process Cost Summary is a report of all the expenses incurred in the production of a given department or process. This report is usually computed by the end of the period. Higher-level management uses the process cost summary to evaluate the performance of the managers and managers themselves can use the sheet to find out how well they did according to the goals set for them.

The Process Cost Summary is also helpful at the moment of computing const activity in the Financial Statements of the firm.

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