1) What cost system is best suited to industries that manufacture a large number of identical units on a continuous basis ?

2) Describe the purpose of a factory overhead production report

3) Describe the purpose of a manufacturing cost report

4) Describe the purpose of a cost of production report

5) Why would a firm adopt a just-in-time operating system ?

6) Refer to #5. What are the disadvantages of this system ?

7) Refer to the following industries. Which industry would use a process cost system ? Which industry would use a job order cost system ? Explain your answers.

a) Business Consulting

b) Chemicals

c) Food

d) Movies

e) Soap

f) Cosmetics

g) Web Designer