Penman's Art Journal . H C. BENTLEY HIGHER ACCOUNTING By BENTLEY & LAIRDPublic Accountants. The system which will be discussed hereinafter illustratesthe Process Method. Let it be assumed that the business of the manufacturingconcern is to manufacture and sell a patented explosivewhich serves the same purposes as dynamite. This concernalso buys and sells blasting supplies, such as fuse, exploders,lead-wire, blasting machines, etc. In manufacturing theirexplosive they procure a bi-product which they sell, thus de-riving an income from that source. Referring now to theexplosive as a product: It
Penman's Art Journal . H C. BENTLEY HIGHER ACCOUNTING By BENTLEY & LAIRDPublic Accountants. The system which will be discussed hereinafter illustratesthe Process Method. Let it be assumed that the business of the manufacturingconcern is to manufacture and sell a patented explosivewhich serves the same purposes as dynamite. This concernalso buys and sells blasting supplies, such as fuse, exploders,lead-wire, blasting machines, etc. In manufacturing theirexplosive they procure a bi-product which they sell, thus de-riving an income from that source. Referring now to theexplosive as a product: It is in the form of a powder, and is put up in paper shellsof different sizes, the shells being packed .in wooden cases—fifty pounds of loaded shells to the case. The product isready for shipment when the wooden case is packed andlabeled. The raw materials purchased will be known as , D, E, F, G, H, I and K. The different processesleading up to the production of the explosive which maybe designated as W, are as follows; viz.: A and IV produce C, it being cheaper to manufactureC than
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