Question: 1. Explain the difference between Physical units in Step One and Equivalent units in Step Two using the Weighted-Average Method. 2. Compare Job Order Costing

1. Explain the difference between Physical units in Step One and Equivalent units in Step Two using the Weighted-Average Method.

2. Compare Job Order Costing and Process Costing:

a. Explain how many Work-in-Process Inventory accounts are used for each costing method.

b. What are the characteristics of products that are manufactured using each costing method.

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