Difference between process and job order costing system

Assignment Help Marketing Management

Reference no: EM131859906

Question: These costing systems are different in many ways. One of the main differences between a process costing system and a job order costing system is that with a job order cost system, only one work in process account is used while separate accounts are maintained for each department or manufacturing process in a process cost system. Another difference is that in a job cost system, the unit cost is the total cost per job ÷ by the units produced. In a process cost system, the unit cost is total manufacturing costs for the period ÷ by the units produced during the period. Class - Although there are differences, there are also similarities.

In what ways are these two costing systems similar?

Reference no: EM131859906

Questions Cloud

Calculate the economic production quantity : Couch Potato Products manufactures steel springs for use in lazy master Deluxe couches. The annual demand for these steel springs is 50,000 units.

What are the costs and benefits to employers : What are the costs and benefits to employers of being responsive to the applicant's perspective throughout the selection process?

How much sociological content is exposed : Could one posit the argument that elasticity as a measurement is a reflection of consumer values, culture and preference? How much sociological content.

True regarding currency correlations : Which of the following is not a reason why translation exposure may be relevant to an MNC? Which of the following is not true regarding currency correlations?

Difference between process and job order costing system : These costing systems are different in many ways. One of the main differences between a process costing system and a job order costing system.

Used the phrase penny for your thoughts : John Brown lived in a family that always used the phrase “a penny for your thoughts?” John works at a company with 400 employees

Required return exceed foley required return : By how much does Beale's required return exceed Foley's required return?

True regarding translation exposure : Economic exposure includes transaction exposure. Which of the following is not true regarding translation exposure?

Discuss the common field of trading activity : The Court ruled that the public would not be deceived or led to believe that the Defendants' goods were made by the Plaintiffs.

User Account

All Pages