Job-order and process cost systems are two different costing
systems that a company chooses between based on the preference of
management.
Select one:
True
False
Job-order and process cost systems are used only in the United
States.
Select one:
True
False
Under job-order costing, the actual direct material, actual
direct labor, and estimated overhead costs are recorded on the job
cost sheet.
Select one:
True
False
Q. Explain the similarities and differences between job-order
cost and process cost systems.
Q. Differentiate between traditional costing and
activity-based costing.
Q. Explain the benefits and limitations of activity-based
costing.
Q. Identify activities and cost drivers.
Two primary Cost Accounting Systems are the job
order cost system and the process cost
system. Provide a brief description of each cost-accounting
system.
1. Explain the similarities and differences between job-order
costing systems and process costing systems.
List three American companies that would likely use a job-order
costing system and three other companies that would likely use a
process costing (you can list manufacturing and/or service
companies). Explain your answer (why do you think these companies
would be using such costing systems?)
Describe a Stockholder's Equity transaction.
Please explain In one or two paragraphs, please give an example
(in the form of a journal entry with explanation) of a transaction
which either increases or decreases Stockholder's Equity.
Please type response. And use clear examples.