Cost Flows 1-An operational process system is characterized by a large number of homogeneous products passing through a series of processes, where each process is responsible for one or more operations that bring a product one step closer to completion. In each process, materials, labor and overhead inputs may be needed. In process costing, each process (department) accumulates its costs in a A-an overhead account B-finished goods account C-work-in-process account 2-As the work is finished in a process, the costs of the partially completed units are transferred to the next process by A-crediting b-debiting 3- the WIP account of the process receiving the units while the WIP account of the transferring process is A-credited b-debited 4-When the units are completed and leave the final process, the costs are transferred out by debiting A-cost of goods sold B-finished goods and crediting A-sales revenue B-work in process