Question
In: Accounting
Discuss the differences between product costing and job costing. What type of company would general use...
Discuss the differences between product costing and job costing. What type of company would general use product costing? What type of company would generally use job costing? Give a real world example of each and explain your reasoning.
Solutions
Expert Solution
In job costing each job is a unit and treated separately while the product costing is total of all direct costs divided by units. The detailed answer is as below:
ekkarill92 answered 1 year agoRelated Solutions
Discuss the differences between product costing and job costing. What type of company would general use...
Discuss the differences between product costing and job costing.
What type of company would general use product costing? What type
of company would generally use job costing? Give a real world
example of each and explain your reasoning.
Discuss the differences between product costing and job costing. What type of company would general use...
Discuss the differences between product costing and job costing.
What type of company would general use product costing? What type
of company would generally use job costing? Give a real world
example of each and explain your reasoning.
Discuss the differences between product costing and job costing. What type of company would general use...
Discuss the differences between product costing and job costing.
What type of company would general use product costing? What type
of company would generally use job costing? Give a real world
example of each and explain your reasoning.
Discuss the differences between product costing and job costing. What type of company would general use...
Discuss the differences between product costing and job costing.
What type of company would general use product costing? What type
of company would generally use job costing? Give a real world
example of each and explain your reasoning.
Describe a type of business that would use job costing. What would the direct materials, direct...
Describe a type of business that would use job costing. What
would the direct materials, direct labor, and overhead costs be for
the project.
What are the differences between traditional and activity-based costing systems? In what type of situation would...
What are the differences between traditional and activity-based
costing systems? In what type of situation would an organization
choose one over the other? Note GAAP's requirements. Does size
of company, # of products, etc. matter?
What is a company that would use a job costing system and explain why. In addition,...
What is a company that would use a job costing system and
explain why. In addition, what is an example of a company that uses
a process costing and explain why.
Describe the differences between job order costing, process costing, and Activity Based Costing (ABC). What are...
Describe the differences between job order costing, process
costing, and Activity Based Costing (ABC). What are the advantages
and disadvantages of each system? Imagine a company that you might
be a manager for. Describe that company and what their major
product or service would be. Then, tell which cost system would be
best suited to that firm and why.
What differences exist for a manufacturing organization between process costing and job order costing? What similarities...
What differences exist for a manufacturing organization between
process costing and job order costing? What similarities are there
between the two methods? Are the two methods mutually exclusive?
Please include examples of companies using one method or the other
(or both).
Please explain the concept of equivalent units. Why
does the process costing method use them? Why doesn't job order
costing need to use them?
Explain the differences between traditional job costing and activity based costing
Explain the differences between traditional job costing and
activity based costing
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