Nissley Wedding Fantasy Corporation makes very elaborate wedding cakes to order. The owner of the company has provided the concerning the activity rates in its activity-based costing system: Activity Cost Pools Size-related Complexity-related Order-related Activity Rate $ 1.13 per guest $ 28.22 per tier $ 74.72 per order The measure of activity for the size-related activity cost pool is the number of planned guests at the wedding reception. The greate guests, the larger the cake. The measure of complexity is the number of tiers in the cake. The activity measure for the order-related number of orders. (Each wedding involves one order.) The activity rates include the costs of raw ingredients such as flour, sugar, eg The activity rates do not include the costs of purchased decorations such as miniature statues and wedding bells, which are accour Data concerning two recent orders appear below: Tijerina Twersky Wedding Wedding 126 Number of reception guests Number of tiers on the cake Cost of purchased decorations for cake Suppose that the company decides that the present activity-based costing system is too complex and that all costs (except for the 49 2 $ 28.60 $ 54.64

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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.