Which of the following is not an objective of product costing systems? Group of answer choices:...

Which of the following is not an objective of product costing systems?

Group of answer choices:

A) To provide information for cost planning

B) To determine the optimal amount of products to manufacture

C) To assist in the preparation of financial statements

D) To provide information for product pricing

Solutions

Expert Solution

The correct answer for the question is Option B - To determine the optimal amount of products to manufacture. Product costing system does not provide information relating to the amount or quantity of the products to manufacture. A product costing system gives information on the various costs and cost related activites related to production . Hence, this is not an objective of the product costing system and hence is the correct answer.

Option A is incorrect as providing information for cost planning is one of the primary goals of a product costing system.

Option C is incorrect as costing systems helps in the preparation of the financial statements and is one of the most important objectives.

Option D is incorrect as providing information on product pricing and techniques to control the prices of the products are important objectives of the Product costing system.

Please let me know if you have any questions via comments and all the best :) !

ekkarill92 answered 1 year ago

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