Central Texas College Managerial Accounting and Process Costing Systems Questions

I’m working on a accounting multi-part question and need the explanation and answer to help me learn.

1. What is the main factor for a company in choosing between job order costing and process costing systems? For each type of costing system, list two types of companies that would likely use that system. 2. The focus in a job order costing system is the job or batch. Identify the main focus in process costing. 4. Which costing system, job order, or process, typically uses more Work in Process Inventory accounts? 6. Define equivalent units of production (EUP). Why is it necessary to use EUP in process costing? 12. Explain why equivalent units of production for conversion can be the same as, and why they can be different from, equivalent units for direct materials.

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