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
... budget and report expenditures and revenues related to identified jobs and projects. ... Job order costing is used when there are special models/orders to be ...
... A company that uses job-order costing records the actual materials ... manufacturing overhead, on a job-by-job basis. ... how much each of its jobs cost, providing it ...
... incomplete information for a specific job (an order for a ... or over allocated overhead to "Cost of Jobs Billed ... 31, 2004, and the overhead allocated to Job A24 as ...
...Job Order Costing tracks the costs that are assigned to each job. ... labor) are assigned to individual jobs and overhead ... So, each job will have their own work in ...
... & control, productive and unproductive jobs, current performance ... On the basis of the job order costing characteristics, one ... firms use this job contract costing...
... When flowers are ordered, the job number must be ...process costing) or assign costs to individual batches/jobs/order. ... no option to not just either job or process...
Job Order Costing & Analysis. ... to Job 603 Labor time ticket 766: $8,000 direct labor to Job 604 Labor ...Jobs 603 and 604 are the only units in process at year-end. ...
... compare unit costs of similar jobs to determine ... Receiving report 6. In a job order cost accounting system ... C. Customer accounts receivable D. Job orders 9. Which ...
... The solution explains some questions relating to job order costing. ... Its job-costing system has two direct cost... Department overhead, allocated to jobs based on ...
