Question: Explain how Job Order Costing differs from Process Costing and explain the important features of each. Explain the 4 steps used under process costing. Explain

Explain how Job Order Costing differs from Process Costing and explain the important features of each.

Explain the 4 steps used under process costing.

Explain how to prepare a Cost of Goods Manufactured Schedule and describe its purpose.

Explain how to prepare a Cost of Goods Sold Schedule and describe its purpose.

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