Such a multitude of departments and operations exist in a plant producing tool steels, that the writer has deemed it advisable to discuss each of these in the order in which the steel passes through them from the time the composing materials are melted until the finished product is shipped. This article does not describe a cost system which can be used without alteration in any steel mill, but merely outlines the fundamental principles which should be used in designing such a system. Local conditions in a plant where a cost system is to be installed usually make it necessary to design a system suitable to fit these conditions
