Asked by lyndsey holder on Jul 12, 2024
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Fewer materials requisitions are generally required in a process cost system than in a job order cost system.
Materials Requisitions
Documents or requests used within a company to authorize the retrieval or usage of materials from inventory for production purposes.
Process Cost System
An accounting system that accumulates manufacturing costs and then assigns them to a large number of identical or similar units of output, common in continuous manufacturing environments.
Job Order Cost System
An accounting system that accumulates costs for each individual job or batch of goods, tracking direct labor, direct materials, and overhead.
- Familiarize yourself with the procedures for collecting and allocating costs within a process cost structure.
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Learning Objectives
- Familiarize yourself with the procedures for collecting and allocating costs within a process cost structure.
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