Explore BrainMass

Explore BrainMass

    job-costing system, process costing & job-order system

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    1. One of your co-workers says, "I don't know why we spent so much money on this new job-costing system. I can do everything we need on an Excel spreadsheet. If the CFO had listened to me, we could have saved a ton of money." Is your co-worker right? Can a simple spreadsheet take the place of a job-costing system? Explain.

    2. What type of company would use a process costing system? What about a job-order costing system? Provide two examples for each type. Why does it matter which system is used?

    © BrainMass Inc. brainmass.com March 4, 2021, 9:10 pm ad1c9bdddf
    https://brainmass.com/business/accounting/job-costing-system-process-costing-job-order-system-222586

    Solution Preview

    1. One of your co-workers says, "I don't know why we spent so much money on this new job-costing system. I can do everything we need on an Excel spreadsheet. If the CFO had listened to me, we could have saved a ton of money." Is your co-worker right? Can a simple spreadsheet take the place of a job-costing system? Explain.

    No, my co-worker is not right. A simple excel worksheet cannot replace a job-costing system. In a job-costing system there is an individual allocation of all time, expenses and material to individual jobs or projects. The job-costing system will enable the CFO and the employees to forecast collect, budget and report expenditures and revenues related to identified jobs and projects. This cannot be done easily with a simple spreadsheet. The software ...

    Solution Summary

    This posting gives you an in-depth insight into job-costing system, process costing & job-order system

    $2.49

    ADVERTISEMENT