Cost accounting function determines product costs

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Reference no: EM133971228

Question

The cost accounting function determines product costs, costs of goods sold, and inventory values for financial reporting purposes and management reporting. What is a sample control activity that could be used to control for a poorly designed cost accounting system which may result in misallocation of costs to products? Select answer from the options below Control and account for raw materials issued to production. The control owner is the financial accountant. Ensure that system development is reviewed by appropriate IT and accounting staff. The control owner is the chief technology officer. Ensure that system development is reviewed by appropriate IT and accounting staff. The control owner is the cost accountant. Control and account for raw materials issued to production. The control owner is the cost accountant.

Reference no: EM133971228

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