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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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I grew up learning to quickly adapt to new situations. Throughout the course of my early childhood I traveled to many different countries, never staying in one for too long. This was due to my mother’...

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Q When are companies likely to use a job costing system or process costing system? Describe the specific characteristics of each system and provide at least 2 examples from companies in your community for each system (at least 4 companies should be described).

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Costs of production are applied by process costing to products on the basis of the process they underwent in the process of manufacturing. Materials, labor, and overhead in a standard amount are held by each process (Blocher, Cokins, Stout & Juras, 2019). Applications of these are made to each batch in order for the individual processes of manufacturing to run. There is the use of reconciliations after processing of batch to make sure that the application of all appropriate costs is made to the goods manufactured (Horngren, 1967).