Question: Two basic costing system normally used in industry are 'process costing' and job order costing'. The two system is seen as different and claimed a

Two basic costing system normally used in industry are 'process costing' and job order costing'.

The two system is seen as different and claimed a different degree of accuracy and complicity.

Based on the statement above,

1. What are the main difference differences between the two system?

2. In which activities these systems are differently applied?

3. Which system is more accurate?

4. Which system is more pragmatic?

5. What are the weaknesses of the two system?

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