How flow of costs in a job-order costing system follows flow

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Question - Briefly explain how the flow of costs in a job-order costing system follows the flow of the physical production (i.e., from raw materials purchases to sales and cost of goods sold). Make sure to include how the overhead account is 'closed' to a zero?

In general, would you expect high-volume jobs to be over-costed or under-costed under a traditional, volume-based costing system relative to an ABC costing system? Briefly explain.

Reference no: EM132560035

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