Current Attempt in Progress Presented below are Crane Company's monthly manufacturing cost data related to its personal computer products. a b. C d. a b. Enter each cost item in the following table, placing an X under the appropriate headings. C Hard drives and memory sticks Wages to assemble equipment d. Insurance on manufacturing building Wages for factory supervisors Direct Materials $27.600 $59,800 $37,720 $58,880 Save for Later Product Costs Direct Labor Manufacturing Overhead Attempts: 0 of 1 used Submit Answer
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.
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