ACCT 220 Flashcards
1
Q
Cost accounting
A
involves measuring, recording and reporting product costs
2
Q
2 types of cost systems
A
Process order cost system and job order cost system
3
Q
Steps for flow are costs
A
- Accumalate costs
- Assign costs
4
Q
What does a job cost sheet do?
A
Job cost sheet summarizes the cost o jobs completed and not completed at the end of the accounting period. Jobs completed are transferred to finished goods to await sale
5
Q
A
