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Job order cost and process cost systems

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Explain the similarities and differences between job order cost and process cost systems.

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Solution Summary

The solution discusses the similarities and differences between job order cost and process cost systems.

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Systems Design: Process Costing

Similarities between Job-Order and Process Costing

 Both systems assign material, labor and overhead costs to products and they provide a mechanism for computing unit product cost.
 Both systems use the same manufacturing accounts, including Manufacturing Overhead, Raw Materials, Work in ...

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