Job costing,Process costing,operations costing
Not what you're looking for?
How do job costing, operations costing and process costing differ? Provide two typical examples of products or organizations for each system.
Purchase this Solution
Solution Summary
The answer contains the detailed explanation regarding defnintion of job costing, process costing and operations costing, typed of industries which uses these three costing system and also differences between the job costing, process costing and operations costing has been explained.
Solution Preview
How do job costing, operations costing and process costing differ? Provide two typical examples of products or organizations for each system
Job costing means the computation of cost of each job undertaken by the company.
Definition:
Job costing is the order specific technique where each job is unique and is done by the firm according to the specifications of the customer.
Industries which use job costing are: construction companies (construction of building, dam, and bridge), shipping companies (construction of ship), motion picture, etc.
Job costing helps to compute the cost of job by adding direct material, direct labor, direct overhead and the certain percentage of indirect overhead allocated on direct labor or some other basis.
Operation costing
Operations costing is the mixture of job-order and ...
Purchase this Solution
Free BrainMass Quizzes
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Introduction to Finance
This quiz test introductory finance topics.
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.
Basics of corporate finance
These questions will test you on your knowledge of finance.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.