Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,900 of direct materials used $3,400 of direct labor. The job was not finished by the end of September, but needed an additional $2,400 of direct materials and additional di labor of $5,900 to finish the job in October. The company applies overhead at the end of each month at a rate of 150% of the direct labor cost incurre What is the total cost of the job when it is completed in October? Multiple Choice $13,600 $17150 $27,550 $20,550 $24.850
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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