Characteristics of Process Costing

Characteristics of Process Costing includes Production is continuous. Processes and products are standardized. The output of one process is the input of the next process.There may be process losses of input.There may be abnormal gain.Two or more products may be produced simultaneously these are Characteristics of Process Costing.

Characteristics of process costing system

Process costing system is employed by industries possessing following characteristics: There is mass production of a single product or two or more products in successive runs of scheduled duration e.g., vegetable canning or fruit juice bottling. . All units of output are exactly similar