Chapter 15, Problem 1E

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 Accounting System:

Cost system accounting is a method of accounting used to ascertain the cost of a particular good or a service in order to determine the profitability of the firm.

Target Cost:

Target cost is the system used by the company to ascertain the cost of a product and manufacturing in advance.

Job Order Production:

Job order production is system in which the manufacturing of customized orders takes place.

To identify: The appropriate term/phrase for the given definitions.