1. Describe the process costing system, discuss its role in the management cycle, and identify the reasons for its use.
   
2. Relate the patterns of product flows in a process costing environment to the process cost flow methods.
   
3. Explain the role of the Work in Process Inventory account(s) in a process costing system.
   
4. Define and compute equivalent production (units).
   
5. Prepare a process cost report.
   
6. Evaluate operating performance using information about product cost.
   
7. Inventory balance in a process costing system that uses the average costing method.