Principles of Accounting, 2002 Edition
Belverd E. Needles, Jr., DePaul University Marian Powers, Northwestern University Susan Crosson, Santa Fe Community College
Chapter Summaries
Chapter 21: Cost Systems: Job Order and Process Costing
Chapter 21 provides an introduction to the cost-based accounting systems of job order and process costing. It covers how managers use cost information in the management cycle. Product and cost flows under a job order system and a process costing system are discussed, and job order cost cards and process cost reports are prepared. The chapter concludes with a discussion about how managers evaluate performance using information about product cost.