ACT 500 M3 Discussion

Cost Systems

What type of industries are best suited for process cost systems? Discuss how the process cost system is tracked and recorded for one of the following types of business: (a) TV assembler, (b) building contractor, (c) automobile repair shop, (d) paper manufacturer, (e) custom jewelry manufacturer? In the business type you selected, what is the most important purpose of the cost of production report and how can it improve operations in that business type?

Directions:

Discuss the concepts, principles, and theories from your textbook. Cite your textbooks and cite any other sources if appropriate.