Question: 1) Define cost pool, cost tracing, cost allocation, and cost-allocation base. 2) How does a job-costing system differ from a process-costing system? 3) Describe the

1) Define cost pool, cost tracing, cost allocation, and cost-allocation base.

1) Define cost pool, cost tracing, cost allocation, and cost-allocation base. 2) How does a job-costing system differ from a process-costing system? 3) Describe the seven steps in job costing. 4) Give examples of two cost objects in companies using job costing

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