Assume a company worked on four jobs during June: Jobs W, X, Y, and Z. At the end of June, the job cost sheets for these four jobs contained the following data: Beginning balance Charged to the jobs during June: Direct materials Direct labor Manufacturing overhead applied Units completed Units sold during June Multiple Choice о о 37 units 108 units 78 units Job W $ 80 86 units $ 145 $ 90 $45 0 0 Jobs X, Y, and Z were completed during June. Job W was incomplete at the end of June. There was no finished goods inventory on June 1 and the company's total manufacturing overhead applied always equals its total actual manufacturing overhead. If the cost of goods sold in June is $460, how many units from Job Z must have been sold in June? Job X $ 120 $ 80 $ 50 $25 100 100 Job Y $ 90 $ 105 $ 70 $ 35 50 Job Z $ 140 $ 120 $ 100 $ 50 82 ?
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
Subject:- Account
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