How is process costing different than job costing?
Question:
How is process costing different than job costing?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
A job costing system tracks the costs direct materials direct labor and manufacturing overhead c...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Managerial Accounting
ISBN: 9780137689453
1st Edition
Authors: Jennifer Cainas, Celina J. Jozsi, Kelly Richmond Pope
Question Posted:
Students also viewed these Business questions
-
1. What characteristics of the product or manufacturing process would lead a company to use a process costing system? Give two examples of companies that are likely to be using process costing. What...
-
Beauville Furniture Corporation produces sofas, recliners, and lounge chairs. Beauville is located in a medium-sized community in the southeastern part of the United States. It is a major employer in...
-
Job order and process cost system job order cost system involves batch-wise or job-wise accumulation of costs. On the other hand, process costing involves assigning costs to both partially and fully...
-
What is meant by a throwaway prototype?
-
Congress decides it wants to issue a total ban on online advertising of prescription medicines. If a pharmaceutical company challenges this total ban, is the company likely to be successful?
-
Langlois and Roggman (1990) took facial photographs of males and females. They then created five groups of composite photographs by computer-averaging the individual faces. For one group the computer...
-
A certain wire has a circular cross section of radius \(R\) and carries a current \(I\). Suppose that the charge carriers all move along the cylindrical surface of the wire, not through its...
-
Apperson and Fitz is a chain of clothing stores that caters to high school and college students. It publishes a quarterly catalog and operates a Web site that features provocatively attired males and...
-
Which one of the metal atoms whose electronic structure given below forms a nitrate of the type M(NO3)2? 37 A. 2.8.0 B. 2.8.1 C. 2.8.2 D. 2.8.3
-
Pretty Lawn Products uses a process costing system. The following is known for July: The company started 90,000 units and completed 87,000 units. The beginning work in process was 3,000 units. How...
-
One benefit of ABM is that because it provides information about which customers require a significant amount of service, marketing personnel can determine which customers to charge a high fee or, if...
-
Determine the total voltage gain of each 3656KG in Figure 2046. Vino WE (a) R 10 R ww 18 R1 - 8.2 (7) (10) (6) FIGURE 20-46 Input (3) 7 3656KG (20) 0.47 F Output R2 15 +15 V Rf2 www 150 (14)...
-
In the context of greenhouse gas emission, direct emissions are controlled by the reporting entity. are created through waste disposal. come from utility-based services. come from employee business...
-
In which industries would you tend to see dual facility types (some facilities focusing on only one type of product and others able to produce a wide variety)? In which industries would this be...
-
Which of these statements is most accurate? Benefits and costs of sustainability programs fall equally across all supply chain members throughout most initiatives. Customers tend to be vocal about...
-
The goal of optimization in revenue management is to identify a tactic using forecasts of customer behavior that will be most effective. using linear regression that will maximize revenue. using...
-
How can a manufacturer tackle seasonal demand in operations planning?
-
The file S02_08.xlsx contains data on 500 shipments of one of the computer components that a company manufactures. Specifically, the proportion of items that are defective is listed for each...
-
Use nodal analysis to determine voltages v1, v2, and v3 in the circuit Fig. 3.76. Figure 3.76 4 S 3i, 2 A 4A
-
Lindon Company is the exclusive distributor for an automotive product that sells for $40 per unit and has a CM ratio of 30%. The companys fixed expenses are $180,000 per year. The company plans to...
-
Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others a. Assume that only one product is being sold in each of the four following case...
-
Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others a. Assume that only one product is being sold in each of the four following case...
-
Look around at the products and services used here in the US. Identify one that has been rapidly adopted by consumers. Explain why you think this was the case using class concepts from this module...
-
In your role as a coach or mentor, how is the process of setting such goals to support another person's needs different?
-
How would you implement functions in Python to perform preorder, in order, and post order traversals on a binary tree?
Study smarter with the SolutionInn App