What is the difference between job order and process costing?
Question:
What is the difference between job order and process costing?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
The difference between job order costing and process costing relates to the type of product or serv...View the full answer
Answered By
Dinesh F
I have over 3 years of professional experience as an assignment tutor, and 1 year as a tutor trainee.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Question Posted:
Students also viewed these Managerial Accounting questions
-
What is the difference between operations costing and a process costing system?
-
How are job order and process costing similar? How do they differ?
-
What is the major difference between job order costing and process costing?
-
What is the future value of the following cash flows, given an appropriate discount rate of 7.74% (to the nearest penny)? Year 1 Year 2 Year 3 Year 4 Year 5 $2,005 $4,054 $6,159 $8,532 $11,985
-
What AMT adjustment items are likely to affect all taxpayers who itemize their deductions? Give examples.
-
There are three consumers of a public good. The demands for the consumers are as follows: Consumer 1: P1 = 60 - Q Consumer 2: P2 = 100 - Q Consumer 3: P3 = 140 - Q where Q measures the number of...
-
How might an organization estimate the direct and indirect benefits of a new HRIS that decreases the time required by employees to complete transactions of the HR department through the...
-
James, who was engaged to examine the financial statements of Talbert Corporation, is about to audit payroll. Talbert uses a computer service center to process weekly payroll as follows. Each Monday...
-
Suppose p(x) and q(x) are polynomials with real (or complex) coefficients with 0 deg(q(x)) deg(p(x)). Moreover, suppose there is no polynomial r(x) for which p(x) = q(x)r(x). Setting so(x)= q(x),...
-
DRAW ERD: a professor teaches zero, one or many classes and a class is taught by one professor a course may generate zero, one or many classes and a class comes from one course a class is held in one...
-
In recent years, many companies have invested in equipment to automate processes that were once performed manually. A simple example is a drive-through car wash, where robots wash and dry the cars...
-
Many service industries use job order costing to keep track of the cost of serving clients. Can you think of a service industry that provides fairly homogeneous services? Describe the industry and...
-
Evaluate the following statement: "The corporate charter and the bylaws of a company are legal documents; therefore, they should not be examined by the auditors. If the auditor wants information...
-
20. As a shaft's journal passes through a plain bearing, one edge of the bearing rubs against the left side of the journal and the other edge rubs against the right side of the journal. The cause of...
-
Daily Oxygen. The density of air under standard temperature and pressure is about 1.29 kg/m. Typically, a person breathes about 0.50 L per breath. Approximately how many kilograms of oxygen (not...
-
19. The effect of constantly changing load on a bearing is called O A. thermal stress. B. fatigue stress. O C. abrasion. O D. deflection.
-
A vessel having a volume of 3 cu ft contains 0.5 lb of air at atmospheric pres- sure. Additional air is forced into the vessel until the total weight of air is 1.375 lb. If the temperature remains...
-
4. Where are revolved sections placed in a print? A. In between section lines B. Cutting planes are used to identify their locations O C. In between break lines O D. Stand-alone
-
Rate each of the following questions according to the following scale: 1. I am never like this. 2. I am rarely like this. 3. I am sometimes like this. 4. I am often like this. 5. I am always like...
-
SBS Company have received a contract to supply its product to a Health Care Service Hospital. The sales involve supplying 1,250 units every quarter, the sales price is RM 85 per unit. The Client...
-
A flow of \(2.0 \mathrm{lbm} / \mathrm{sec}\) of air is compressed from \(14.7 \mathrm{psia}\) and \(60^{\circ} \mathrm{F}\) to \(200 \mathrm{psia}\) and \(150^{\circ} \mathrm{F}\). Cooling water...
-
A variable cost is a cost that varies per unit of product, whereas a fixed cost is constant per unit of product. Do you agree? Explain.
-
How do fixed costs create difficulties in costing units of product?
-
How do fixed costs create difficulties in costing units of product?
-
respond to the following : Hi Kassim, "Given that you have successfully applied these steps to pay down your car loan faster, how would you adapt this financial plan if you were to encounter a...
-
The Impact of Artificial Intelligence in the Accounting Profession: Challenges and Opportunities: The accounting profession has been undergoing significant transformations with the advent of...
-
The following is an alphabetical list of accounts and balances for J. Robinson, proprietorship at June 30, 2024 Accounts Payable $13,300 Notes Payable $31, 800, Accounts Receivable $10, 850 Prepaid...
Study smarter with the SolutionInn App