Questions 2 and 3
I need help with answering the following cost accounting questions. Could you please provide a words count of 200 for each questions.
2. Contrast the primary focus of job order cost accounting and of process cost accounting.
3. What are the similarities between a job order and a process cost system?
thank you
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2. Contrast the primary focus of job order cost accounting and of process cost accounting.
The primary focus of a job order cost accounting system is to provide the cost of each job while the primary focus of a process cost accounting system is to provide an average unit cost. Thus a job order cost system tracks the cost of each job separately and so is able to provide the cost of each job, a process cost system accumulates total cost of a process and then divides the total cost by the units to give the average cost. In a process cost system we would not be able to find the cost of each unit separately. This focus then defines the situations ...
Solution Summary
The compares and contrasts job order costing and process costing
... carried out against customers' orders and stipulations ... In job order costing system, production is basically measured in terms of completed contracts or jobs. ...
... The solution explains three questions relating to job order costing, activity based costing and process costing. Question #2: Job Order Costing. ...
... Ans: b) ordering from the wrong supplier. ... 36: Direct labor costs are assigned to individual jobs using a source document known as a a) job-order cost sheet. ...
... MANUFACTURING COSTS In a job order cost system, manufacturing ... of materials with specific jobs or orders. The procedures for ordering, receiving, recording, and ...
... ACCUMULATING MANUFACTURING COSTS In a job order cost system, manufacturing costs are ... accounting record in assigning costs to jobs is a job cost sheet shown ...
... The Film Company uses a job-order costing system and a predetermined ...costs assigned to each of the jobs individually ... Give dollar amount and the job number(s). 8 ...
... more customers to satisfaction and therefore order more ... person who will be placed in that particular job. ... this, they will enjoy performing their jobs, they will ...
... 1. The company uses a job order costing system ... 4,000 5,000 Purchase orders 200 orders 60 30 ... PROBLEM 4-17 Comprehensive Process Costing Problem Weighted ...
... B. In order to qualify for job-order costing, each job... C. Process Costing treats each individual job as the unit of ... D. In job costing, each unit produced is of ...
