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Process costing is a method used to calculate the cost of products in continuous production processes, such as in industries like food processing, chemical manufacturing,
Process costing is a method used to calculate the cost of products in continuous production processes, such as in industries like food processing, chemical manufacturing, or oil refining. Imagine you are a manager in a company that produces soft drinks using a continuous production process. Discuss the key features of process costing and how it differs from other costing methods, such as job order costing. Additionally, consider the concept of equivalent units and the challenges involved in calculating them accurately.
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