Job: A job is a task or work assigned to the employee for which he is paid. Job is considered as to manufacture a single unit of that particular customized product as per requirements of the customer. Job Lot: Job lot is a job to produce a number of collected units as per the requirements of the consumers. Cost and Benefit: Cost refers to the actual value of the product or service that has been produced. Cost includes all the direct expenses spent on that particular product to produce and benefit refers to the revenue that is generated after that particular product is sold to the market. Cost and benefit are both inter related terms. To categorize : The production of 1000 phones as job or a job lot.

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Chapter 15, Problem 10DQ

To determine

Job:

A job is a task or work assigned to the employee for which he is paid. Job is considered as to manufacture a single unit of that particular customized product as per requirements of the customer.

Job Lot:

Job lot is a job to produce a number of collected units as per the requirements of the consumers.

Cost and Benefit:

Cost refers to the actual value of the product or service that has been produced. Cost includes all the direct expenses spent on that particular product to produce and benefit refers to the revenue that is generated after that particular product is sold to the market.

Cost and benefit are both inter related terms.

To categorize: The production of 1000 phones as job or a job lot.

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