Describe the basic characteristics of process manufacturing and the associated cost flows. Write an overview explaining how costs are accumulated and assigned in a process costing system. Define equivalent units and explain their role in process costing. Discuss the differences between the weighted average method and the FIFO (First-In, First-Out) method of accounting for process costs. Provide examples to illustrate how each method affects the calculation of costs. Explain how nonuniform inputs and multiple processing departments affect process costing. Discuss the challenges these factors introduce and how a company can manage these complexities within its costing system. References: Utilize at least 3 credible sources to support your analysis