In managerial accounting, "cost flow" refers to the way costs are incurred during the production process. In your discussion of this topic describe: 1. The costs likely to be incurred and recorded during the production cycle, starting with WIP and ending with COGS. 2. In broad terms discuss how costs are accounted for, i.e. as "assets", "expenses", etc. In your discussion be sure to explain WHY costs are thusly catagorized.