How does a job-costing system differ from a process-costing system?
Question:
How does a job-costing system differ from a process-costing system?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (6 reviews)
Job Costing System Process Costing System 1 Job costing system is mainly used in companies where ord...View the full answer
Answered By
Muhammad Imtiaz Rasool
Teaching profession brings with it lots of duties and challenges.
When I completed my Bachelor's Degree. So I entered this profession.
I am in this profession of teaching in a School for about 2 years. Every time whenever I am going to teach a class as a part of this noble profession .I am learning also. I am trying consistently ....how to represent, interpret, summarize and rethink about the whole concept I wish to teach or rather inspire my students in a specific period of time assigned to me.
0.00
0 Reviews
10+ Question Solved
Related Book For
Management And Cost Accounting
ISBN: 9781292232669
7th Edition
Authors: Alnoor Bhimani, Srikant M. Datar, Charles T. Horngren, Madhav V. Rajan
Question Posted:
Students also viewed these Business questions
-
How does an actual costing system differ from a normal costing system? What advantages does a normal costing system offer?
-
A large firm of solicitors uses a job costing system to identify costs with individual clients. Hours worked by professional staff are used as the basis for charging overhead costs to client...
-
How does a job costing system help a company evaluate the profitability of jobs?
-
A company writes a check to replenish a $100 petty cash fund when the fund contains receipts of $94 and $4 in cash. In recording the check, the company should: (a) debit Cash Over and Short for $2....
-
Do the previous problem with properties from table A.7.1 instead of cold air properties.
-
Moon and Sons Inc. earned $120 million last year and retained $72 million. What is the payout ratio?
-
Carlos Martinez, who is a physical therapist, is thinking about starting a firm to provide in-home therapy services for people suffering from sports-related injuries. Carlos lives in Columbus, Ohio....
-
The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019: Selected accounts and related amounts for Clairemont Co. for...
-
1. Which of the following is a CORRECT statement? 2. 3. (a) 2.3056+10.138-7.4671 = 4.9765 (b) 2.38 x 1.0 = 2.38 8.05 (c) -=2.6 3.1 (d) (1.11 0.1) x 9.0 = 9.0 A projectile travels at 0 below...
-
1. Evaluate the rating scale used for the question in this survey. Is it balanced? Are the category labels clear? Is the number of categories appropriate? 2. Suggest three ways that Roeder-Johnson...
-
Why might an advertising agency use job costing for an advertising campaign for Pepsi while a bank uses process costing for the cost of current account withdrawals?
-
In the production of services, direct materials are usually the major cost. Is this quote accurate? Explain.
-
Comparison shopping is available on the Internet, and this is useful because exactly the same item is available at a variety of prices. Table 9.6.1 shows results from MySimon for prices of the Eureka...
-
The elementary reaction 2 HO(g) 2 H2(g) + O2(g) proceeds at a certain temperature until the partial pressures of HO, H2, and O2 reach 0.0150 atm, 0.00250 atm, and 0.00650 atm, respectively. What is...
-
Calculate the five project evaluation criteria: Paybackperiod Discounted paybackperiod Breakevenpoint Profitability index, Average accounting return Gopher Place Whalen Court The Barn Goldie's Square...
-
Give the definition of the marginal rate of substitution. b. Give the definition of indifference curve. c. Hai Ying loves chestnuts but despises strawberries - chestnuts are a "good" for her and...
-
Solve for y. 4 7 9 6 3
-
A closed container containing an ideal gas is divided into two volumes by a moving piston that does not transmit heat (V = 100 cm, V = 200 cm). The initial temperature throughout the container is the...
-
Solve the given vector equation for x, or explain why no solution exists: 17
-
For each of the following transactions, indicate whether it increases, decreases, or has no effect on the following financial ratios: current ratio, debt-to-equity ratio, profit margin ratio, and...
-
1. Provide examples of companies where most of their value can be attributed to intellectual capital rather than physical assets. 2. What do you think are the key intellectual capital drivers of...
-
1. Do you think technological developments will always be an issue for management accountants? 2. Based on the brief summary above, what kinds of skills other than technical accounting training do...
-
1. Do you think environmental costs and benefits can be accurately measured? 2. Do issues such as the environment help management accountants become more strategically important members of the...
-
For the beam elements shown, write a matlab program to calculate the nodal displacements and slopes at nodes 1, 2 and 3. y 1 2 m m 2 -4 m- 3 x 150 mm H 200 mm E = 70 GPa I= 0.0001 m 4
-
14) Answer the following questions using the phase diagram of the iron-carbon system. a) A plain carbon steel contains 70 wt % ferrite and 30 wt % pearlite. Estimate the carbon content of the steel....
-
During the last three years, has your firm changed accounting practices and/or policies in regards to the recognition of sales, assets, leases and liabilities? Describe these changes in plain English...
Study smarter with the SolutionInn App