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Cost Accounting Systems
Methods and procedures used for collecting, classifying, summarizing, and analyzing a company's costs to help in budgeting, controlling, and decision-making.
Product Costs
Direct costs associated with the production of goods sold by a company, including direct materials, direct labor, and manufacturing overhead.
Process Cost Accounting System
An accounting system that accumulates costs for each process or department within a production environment.
Continuous Production
A manufacturing process where materials are produced without interruption around the clock.
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