You are asked to compose a brief memorandum (executive summary) describing your conclusions. You are asked to provide support for your memorandum in the form of numerical or other data.

Learning Objective: Describe and illustrate financial statements for a manufacturing business, including the balance sheet, statement of cost of goods manufactured, and income statement.

Describe the distinguishing factors of a manufacturing business's income statement and balance sheet.

Explain how to determine the cost of goods manufactured.

Learning Objective : Describe the use of job order cost information for decision making.

Explain how a job order cost system can be helpfulin making decisions in a company.

Learning Objective 17: Describe process and job order cost systems.

Determine the main differences between process and job order cost systems.