prod-costing systm - Chapter3: Product Costing and Cost...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Chapter3: Product Costing and Cost Accumulation in a Batch Production Environment Types of Product-Costing Systems The detailed accounting procedures used in product-costing systems depend on the type of industry involved. Two basic sets of procedures are used: job-order costing and process costing. Job-Order Costing Systems Job-order costing is used by companies with job-shop operations or batch-production operations. In a job-shop environment, products are manufactured in very low volumes or one at a time. Examples of a job-shop environment include feature film production, custom house building, ship building, aircraft manufacture, and custom machining operations. In a batch-production environment, multiple products are produced in batches of relatively small quantity. Examples include furniture manufacture, printing, agricultural equipment, and pleasure boat production. L earning O bjective 3 Distinguish between job-order costing and process costing....
View Full Document

This note was uploaded on 02/26/2012 for the course MGMT 201 taught by Professor Rowe during the Fall '08 term at Purdue University-West Lafayette.

Page1 / 3

prod-costing systm - Chapter3: Product Costing and Cost...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online