Meaning of process costing

proc'ess cost"ing

Pronunciation: [key]
— Accounting. Accounting.
  1. a method of assigning costs to production processes where products must of necessity be produced in one continuous process, with unit cost arrived at by averaging units produced to the total cost of the process. Cf.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.