A document that summarizes the total manufacturing cost of a product, which is important in recording the cost of inventory and cost of goods sold in the general ledger

 

Choose from the following selections the best definition of a production report.

A barcode tag to authorize and track movements of a single manufacturing job from one location in production to another

A document where every production operation is scheduled at a specific calendar time, resources and workers are assigned, and steps are outlined to utilize all resources effectively

A document that summarizes the total manufacturing cost of a product, which is important in recording the cost of inventory and cost of goods sold in the general ledger

A document that authorizes the movement of raw material from inventory into production

 

The best definition of a production report is "A document that summarizes the total manufacturing cost of a product, which is important in recording the cost of inventory and cost of goods sold in the general ledger."

 

A production report is a document that summarizes the total manufacturing cost of a product, which is important in recording the cost of inventory and cost of goods sold in the general ledger. The production report provides detailed information on the cost of labor, materials, and overhead associated with the production of each unit of product. This information is used to determine the total cost of goods manufactured, which is then used to calculate the cost of goods sold and the value of inventory on the balance sheet. The production report is an essential document for cost accounting purposes, and it helps managers to analyze and control the production costs.