When materials are purchased in a process costing system, a materials account is debited with the cost of the materials?

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Business

Brittany Monroe

29 February, 04:16

When materials are purchased in a process costing system, a materials account is debited with the cost of the materials?

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Justus · Answer 1

In process costing, when materials are purchased, a material account is debited with the cost of the materials. This statement is true. Raw materials bought during the process of production are paid for from material account so that account has to be debited and the money taken from it will be credited to the account of the supplier of that raw material.