Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month`s production. Eventually, costs have to be allocated to individual units of product. It assigns average costs ....
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http://en.wikipedia.org/wiki/Process_costing
(from the article `accounting`) ...The most fully developed methods of cost finding are used to estimate the costs that have been incurred in a factory to manufacture specific ...
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http://www.britannica.com/eb/a-z/p/117
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.
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https://www.infoplease.com/dictionary/process-costing
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