The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product. The method of costing to be used by various companies depending upon their requirements need to be determined.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 19, Problem 1QC

To determine

The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product.

The method of costing to be used by various companies depending upon their requirements need to be determined.

Expert Solution & Answer

Explanation of Solution

Solution: d. Advertising Agency-Job order costing: Cell Phone companies-Process Costing

Job costing method is used by the companies which produces different customized product each time the production is made. However, the process costing method is used by the companies which produces identical units of single product during the production period. Therefore, Advertisement Agency which has to cater to the customized demand of each client job which is not identical in one or more respect, will use the Job costing method. However, the mobile manufacturing companies, which produces a large number of identical units of single model will use the Process Costing method.

To conclude, it must be said that Advertisement agency must use Job costing method and Cell phone manufacturing company must use Process costing method.Therefore, for the given problem, the answer is as follows:

d. Advertising Agency-Job order costing: Cell Phone Companies-Process Costing

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

What is the value of the preferred stock of this financial accounting question?

Company would record the cost of the equipment

Eva owns securities with a tax basis of $5,700. She gives them to Smith when they are worth only $4,200. Smith held these securities until they were worth $6,800 and sold them. What amount of gain does he have to report on this sale?

Answer 2

Question

Chapter 19, Problem 1QC

To determine

The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product.

The method of costing to be used by various companies depending upon their requirements need to be determined.

Expert Solution & Answer

Explanation of Solution

Solution: d. Advertising Agency-Job order costing: Cell Phone companies-Process Costing

Job costing method is used by the companies which produces different customized product each time the production is made. However, the process costing method is used by the companies which produces identical units of single product during the production period. Therefore, Advertisement Agency which has to cater to the customized demand of each client job which is not identical in one or more respect, will use the Job costing method. However, the mobile manufacturing companies, which produces a large number of identical units of single model will use the Process Costing method.

To conclude, it must be said that Advertisement agency must use Job costing method and Cell phone manufacturing company must use Process costing method.Therefore, for the given problem, the answer is as follows:

d. Advertising Agency-Job order costing: Cell Phone Companies-Process Costing

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 19, Problem 1QC

To determine

The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product.

The method of costing to be used by various companies depending upon their requirements need to be determined.

Expert Solution & Answer

Explanation of Solution

Solution: d. Advertising Agency-Job order costing: Cell Phone companies-Process Costing

Job costing method is used by the companies which produces different customized product each time the production is made. However, the process costing method is used by the companies which produces identical units of single product during the production period. Therefore, Advertisement Agency which has to cater to the customized demand of each client job which is not identical in one or more respect, will use the Job costing method. However, the mobile manufacturing companies, which produces a large number of identical units of single model will use the Process Costing method.

To conclude, it must be said that Advertisement agency must use Job costing method and Cell phone manufacturing company must use Process costing method.Therefore, for the given problem, the answer is as follows:

d. Advertising Agency-Job order costing: Cell Phone Companies-Process Costing

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 19, Problem 1QC

To determine

The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product.

The method of costing to be used by various companies depending upon their requirements need to be determined.

Expert Solution & Answer

Explanation of Solution

Solution: d. Advertising Agency-Job order costing: Cell Phone companies-Process Costing

Job costing method is used by the companies which produces different customized product each time the production is made. However, the process costing method is used by the companies which produces identical units of single product during the production period. Therefore, Advertisement Agency which has to cater to the customized demand of each client job which is not identical in one or more respect, will use the Job costing method. However, the mobile manufacturing companies, which produces a large number of identical units of single model will use the Process Costing method.

To conclude, it must be said that Advertisement agency must use Job costing method and Cell phone manufacturing company must use Process costing method.Therefore, for the given problem, the answer is as follows:

d. Advertising Agency-Job order costing: Cell Phone Companies-Process Costing

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 19, Problem 1QC

To determine

The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product.

The method of costing to be used by various companies depending upon their requirements need to be determined.

Expert Solution & Answer

Explanation of Solution

Solution: d. Advertising Agency-Job order costing: Cell Phone companies-Process Costing

Job costing method is used by the companies which produces different customized product each time the production is made. However, the process costing method is used by the companies which produces identical units of single product during the production period. Therefore, Advertisement Agency which has to cater to the customized demand of each client job which is not identical in one or more respect, will use the Job costing method. However, the mobile manufacturing companies, which produces a large number of identical units of single model will use the Process Costing method.

To conclude, it must be said that Advertisement agency must use Job costing method and Cell phone manufacturing company must use Process costing method.Therefore, for the given problem, the answer is as follows:

d. Advertising Agency-Job order costing: Cell Phone Companies-Process Costing

Answer 6

Chapter 19, Problem 1QC

To determine

The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product.

The method of costing to be used by various companies depending upon their requirements need to be determined.

Expert Solution & Answer

Explanation of Solution

Solution: d. Advertising Agency-Job order costing: Cell Phone companies-Process Costing

Job costing method is used by the companies which produces different customized product each time the production is made. However, the process costing method is used by the companies which produces identical units of single product during the production period. Therefore, Advertisement Agency which has to cater to the customized demand of each client job which is not identical in one or more respect, will use the Job costing method. However, the mobile manufacturing companies, which produces a large number of identical units of single model will use the Process Costing method.

To conclude, it must be said that Advertisement agency must use Job costing method and Cell phone manufacturing company must use Process costing method.Therefore, for the given problem, the answer is as follows:

d. Advertising Agency-Job order costing: Cell Phone Companies-Process Costing

Answer 7

Chapter 19, Problem 1QC

To determine

The Job costing method is used by the companies involved in manufacturing a unique customized product each time for its clients and Process costing method is used by the companies involved in manufacturing of identical units of single product.

The method of costing to be used by various companies depending upon their requirements need to be determined.

Answer 8

Expert Solution & Answer

Explanation of Solution

Solution: d. Advertising Agency-Job order costing: Cell Phone companies-Process Costing

Job costing method is used by the companies which produces different customized product each time the production is made. However, the process costing method is used by the companies which produces identical units of single product during the production period. Therefore, Advertisement Agency which has to cater to the customized demand of each client job which is not identical in one or more respect, will use the Job costing method. However, the mobile manufacturing companies, which produces a large number of identical units of single model will use the Process Costing method.

To conclude, it must be said that Advertisement agency must use Job costing method and Cell phone manufacturing company must use Process costing method.Therefore, for the given problem, the answer is as follows:

d. Advertising Agency-Job order costing: Cell Phone Companies-Process Costing