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What item is valued using cost accounting

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Reference no: EM132644751

In a production or service environment, what item is valued using cost accounting and explain the impact on the income statement of the over or under valuation of this item.

Question 1: What are the two instances when a company would use cost accounting?

Question 2: What are the issues which could arise if the materials are not assigned properly or on a timely basis?

Reference no: EM132644751

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