Lab 4 - Introduction to Job Order Costing Research and study and leam: 1. What is the purpose of costing systems? (B) explain the following terms and give an example of each . Cost Object Traceable Costs Not easily Traced Costs - 2. There are two type of Costing Systems. Explain 1. Job Order Costing - (terms to know batches, produce to order) Process Costing System-(terms to know produce to stock, continuous process & homogeneous units) 11. 3. What is the difference in Normal vs Actual Costing Approaches? Which type is most commonly used in business? 4. Measuring Direct Material Costs- explain the following terms: Work order Materials requisition form Bill of Materials 5. What is the purpose of a Job Cost Sheet? What type of information is included in one