After you have mastered the material in this chapter, you will be able to:
LO 12-1 | Distinguish between job-order and process costing systems. |
LO 12-2 | Explain how events in a job-order costing system affect financial statements. |
LO 12-3 | Explain how events in a process costing system affect financial statements. |
LO 12-4 | Calculate equivalent units and prepare a cost of production report. |