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After reading this chapter, you should be able to:

  LO 1   Explain what job and job shop mean.

  LO 2   Assign costs in a job cost system.

  LO 3   Account for overhead using predetermined rates.

  LO 4   Apply job costing methods in service organizations.

  LO 5   Understand the ethical issues in job costing.

  LO 6   Describe the difference between jobs and projects.