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Chapter Objectives
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After studying this chapter, you should be able to . . .
Explain the types of costing systems
Explain the strategic role of product costing
Explain the flow of costs in a job costing system
Explain the application of factory overhead costs in a job costing system
Calculate underapplied and overapplied overhead and show how to dispose of it at the end of the period
Apply job costing in service industries
Explain an operation costing system







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