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Process Costing System
An accounting methodology used to allocate production costs to products based on the process they go through.
Production Departments
These are specialized areas within a manufacturing facility where specific sets of operations or tasks are carried out to produce goods.
Job Order Cost Cards
Documents or electronic records that track the expenses related to a specific job or order, including direct labor, direct materials, and allocated overhead costs.
Perpetual Inventories
A method of inventory management where the inventory records are updated on a continuous basis as transactions occur.
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