Topic: Job Costing System versus Process Costing System

Please clearly and concisely explain the following?

1. What is a job costing system? Describe several characteristics of the job costing.

2. Describe two companies that use a job costing system. Be sure to explain how it is used.

3. When are companies likely to use a job costing system and explain your reasonings.

4. What is process costing system? Describe several characteristics of the process costing system.

5. Describe two companies that use a process costing system. Be sure to explain how it is used.

6. When are companies likely to use a process costing system and explain your reasonings.