Briefly describe the difference between job order and process costing . Give an example of a type of company that would use each one.

Question

Want to see more full solutions like this?

Answer 1

Textbook Question

Chapter 3, Problem 1Q

Briefly describe the difference between job order and process costing. Give an example of a type of company that would use each one.

Expert Solution & Answer

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

To indicate:

The difference between the Job order costing and Process Costing System

Answer to Problem 1Q

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete.

Explanation of Solution

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

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

The direct materials variance is computed when the materials are purchased

Action to increase net income

Please given answer general accounting question

Answer 2

Textbook Question

Chapter 3, Problem 1Q

Briefly describe the difference between job order and process costing. Give an example of a type of company that would use each one.

Expert Solution & Answer

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

To indicate:

The difference between the Job order costing and Process Costing System

Answer to Problem 1Q

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete.

Explanation of Solution

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

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

Textbook Question

Chapter 3, Problem 1Q

Briefly describe the difference between job order and process costing. Give an example of a type of company that would use each one.

Expert Solution & Answer

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

To indicate:

The difference between the Job order costing and Process Costing System

Answer to Problem 1Q

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete.

Explanation of Solution

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

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

Textbook Question

Chapter 3, Problem 1Q

Briefly describe the difference between job order and process costing. Give an example of a type of company that would use each one.

Expert Solution & Answer

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

To indicate:

The difference between the Job order costing and Process Costing System

Answer to Problem 1Q

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete.

Explanation of Solution

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

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

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

To indicate:

The difference between the Job order costing and Process Costing System

Answer to Problem 1Q

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete.

Explanation of Solution

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

Answer 8

Expert Solution & Answer

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

To indicate:

The difference between the Job order costing and Process Costing System

Answer to Problem 1Q

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete.

Explanation of Solution

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

To indicate:

The difference between the Job order costing and Process Costing System

Answer 12

Answer to Problem 1Q

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete.

Answer 13

Explanation of Solution

Job order costing is applied to the businesses which manufactured the product or provide the services according to the client’s order. As its names suggest, Job order costing is costing done for a particular job.

Process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing processes.

Answer 14

Ch. 3 - Briefly describe the difference between job order...Ch. 3 - Prob. 2Q Ch. 3 - Explain the differences between Raw Materials...Ch. 3 - Explain the flow of costs in a process costing...Ch. 3 - Prob. 5Q Ch. 3 - Prob. 6Q Ch. 3 - Prob. 7Q Ch. 3 - Prob. 8Q Ch. 3 - Prob. 9Q Ch. 3 - Prob. 10Q

Briefly describe the difference between job order and process costing . Give an example of a type of company that would use each one.

Concept explainers

Videos

Answer to Problem 1Q

Explanation of Solution

Want to see more full solutions like this?

Chapter 3 Solutions