Question: 1. Explain when should a firm use process cost accounting. 2. Compare job order cost and process cost systems. 3. Describe the flow of

1. Explain when should a firm use process cost accounting. 2. Compare job order cost and process cost systems. 3. Describe the flow of costs in a process cost system and the related documents used. 4. How to Compute equivalent units. 5. Explain the fivesteps necessary to prepare a production cost report.

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