Similarities & Dissimilarities of Job and Process Costing
Not what you're looking for?
Contrast the primary focus of job order cost accounting and of process cost accounting.
What are the similarities between a job order and process cost system?
Purchase this Solution
Solution Summary
The answer contains the meaning of job costing, process costing, differences and similarities between job order costing and process oreder costing.
Solution Preview
Job costing is the method of costing in which the cost of completion of a job is added to find out the total cost of the particular job and the resultant profit arising out of the job. Here flow of costs is identified by the job and not by the process involved. Example of Job costing: Manufacturing Company making heavy machines and equipments.
Job costing is appropriate when each product is unique and the company does the work on the basis of special orders. Each job is unique and is different from other jobs.
Process costing involves the identification and accumulation of costs by the process involved. Costs are accumulated ...
Purchase this Solution
Free BrainMass Quizzes
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Operations Management
This quiz tests a student's knowledge about Operations Management