Suppose you are researching how to start a business and are learning about the costs.

  1. To learn more about cost you decided to select 2 (two) companies one that uses job order and another process costing. For each of the two types of companies you selected from above, provide an example of each of the following costs your selected companies might incur. Fully explain your examples.
    1. Direct material (list materials with hypothetical costs based on your research).
    2. Direct labor (Be specific with your description)
    3. Manufacturing overhead (list expenses with hypothetical costs based on your research).
    4. Selling and administrative expense.
  2. Suppose you have decided to start a business producing and selling a product of your choice answer the following questions related to your product:
    1. Briefly describe the product you would produce and sell. What market will you target this product for? (you must describe the targeted segment with specific description i.e., adults, with ages between such and such and an average income of 

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