We continue our discussion of the details of a product costing system in Chapter 8 by developing a process costing system. As we discussed in Chapter 6, the difference between job order and process costing is the level at which costs are aggregated before they are assigned to the individual units of product. Process costing assumes that all units are homogeneous and follow the same path through the production process. | Lecture Fundamentals of cost accounting - Chapter 8: Process costing