A system that provides information about the costs of processes, products, and services used and produced by an organization is a:

1. Continuous Flow Process
2. Cost Management System
3. Two-Stage Allocation System
4. Operations Cost

The Cost Flow Diagram for product costing includes all of the following costs except:

1. Selling Expenses
2. Direct Materials
3. Direct Labor
4. Fixed Manufacturing Overhead

3. The basic cost flow model is:

1. BB + TO = TI + EB
2. BB + TO TI = EB
3. EB = BB + TI - TO
4. EB BB = TO - TI

4. Distinguish between job order costing, process costing, and operation costing. Give an example of a company that would use each.