WK2 DQ1.docx - Job order costing or job costing is a system for assigning manufacturing costs to individual products or batches of products It works for

WK2 DQ1.docx - Job order costing or job costing is a system...

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Job order costing or job costing is a system for assigning manufacturing costs to individual products or batches of products. It works for products that are unique and produced one at a time or for services businesses such as lawyers or accountants. It is used when the products manufactured are sufficiently different from each other. It involves the detailed accumulation of production costs attributable to specific units or groups of units (Bragg, 2017). It uses job cost sheets, material cost flow documents, and overhead cost flow documents to track the production expenses of producing a job or job lot. Process costing is used in companies that produce many units of a single product for long periods. Process costing is an accounting methodology that traces and accumulates direct costs and allocates indirect costs of the manufacturing process. It is used when nearly identical units are mass produced. It is used when there is
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  • Spring '18
  • professor newerze
  • job cost sheets

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