4-1 What is the strategic role of a costing system? 4-2 Identify the three characteristics of costing systems. 4-3 Distinguish between job costing and process costing. 4-4 Explain when companies are...

4-1 What is the strategic role of a costing system?

4-2 Identify the three characteristics of costing systems.

4-3 Distinguish between job costing and process costing.

4-4 Explain when companies are likely to use a job costing system or a process costing system. Provide examples.