Costing Systems

The type of product a company produces affects the type of accounting system needed to determine product cost. The 2 most common types of costing systems are job-order costing and process costing. Respond to the following in a minimum of 175 words: Compare and contrast job-order and process costing systems. How can events in a job-order costing system affect financial statements? How can events in a process costing system affect financial statements? Provide specific examples for each type.For more information on Costing Systems read this: https://en.wikipedia.org/w/index.php?search=Costing+Systems&title=Special%3ASearch&go=Go&ns0=1

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