FIN MANAG. ACCT. (LL) W/CONNECT (1TERM)
9th Edition
ISBN: 9781266573859
Author: Wild
Publisher: MCG
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Chapter 16, Problem 4DQ
To determine
Job Order Costing:
Job order costing is a method of cost accounting which helps the companies to measure the allocation of cost based on individual batch or job. Job order costing is appropriate for companies which manufacture products which are not identical to each other.
Process costing is a method where cost is allocated to each process and then it is further assigned to individual units. It is appropriate for companies where similar products are produced in large volume.
To identify: Cost flows to product flows is same in process
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FIN MANAG. ACCT. (LL) W/CONNECT (1TERM)
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Cost Accounting - Definition, Purpose, Types, How it Works?; Author: WallStreetMojo;https://www.youtube.com/watch?v=AwrwUf8vYEY;License: Standard YouTube License, CC-BY