The statement prepared under process costing is called

cost of goods sold statement
income statement
cost of production report
variance statement

The correct answer is: C. cost of production report.

A cost of production report is a document that summarizes the costs incurred in the production of a product or service. It is used to track the costs of materials, labor, and overhead, and to identify areas where costs can be reduced.

A cost of goods sold statement is a financial statement that reports the cost of the goods that a company has sold during a specific period of time. It is used to calculate the gross profit of a company.

An income statement is a financial statement that reports the revenues, expenses, and net income of a company for a specific period of time. It is used to assess the financial performance of a company.

A variance statement is a document that reports the differences between actual and budgeted costs. It is used to identify areas where costs are out of control and to take corrective action.

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