Job order and process costing
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?
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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