1. Job-order costing and process costing have the same basic purpose. What is this purpose?

2. Explain under what conditions it would be appropriate to use a job-order costing system, and under what conditions would it be appropriate to use a process costing system. In your answer, include an example of a company (industry) that would use job-order costing, and a company (industry) that would use process costing.

3. The major difference between job-order costing and process costing is in how product costs are accumulated. Explain how costs are accumulated in job-order costing, and how costs are accumulated in process costing.