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1. Explain, in your own words, what is a Process Cost System, and why it is valuable in managerial accounting. 2. Explain, in your own

1. Explain, in your own words, what is a Process Cost System, and why it is valuable in managerial accounting.

2. Explain, in your own words, the flow of materials in a Process Cost System.

3.How the two complement each other.

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