Give an example of a well-known company that might use job-order costing, and an example of a well-known company that might use process costing.
Explain why you have chosen these companies
You should address this question by:
a. first defining each of the costing systems and mentioning the types of businesses that would use them,
b. then differentiating between the two systems
c. Your next step should be choice of companies and the reasons for your choice.
I have guided you below, you may choose to add a bit to what I have given you here.
Differentiate Between Job Costing and Process Costing
A Job costing system allocates costs to products that are readily identified by individual units or batches, each of which requires varying degrees of attention and skill. The key element of these products is the fact that they are ...
Job costing and process costing differentiated