Explain the concept of operation costing. Describe the product features and production environments suited to operation costing.

Provide a description of how the job order costing and process costing methods are applied to determine accurate cost data.

Process costing is an effective method to identify resource and logistics costs. Please respond to the following: Discuss the specific steps you would take to design a process costing system that effectively identifies resource and logistics costs of a manufactured product.

Cost assignment and cost allocation are used to support and explain the relationship between cost drivers and cost objects in assigning product costs. The relationship of direct materials, direct labor, product, and period cost type are of direct importance. Discuss and provide an example of how cost assignments and cost allocation pertain to one of the costing types. Support your rationale.