Question: A major difference between process costing and job-order costing is: Costs are calculated at each step in a job-order system while only calculated at the

A major difference between process costing and job-order costing is:

Costs are calculated at each step in a job-order system while only calculated at the end of a process costing system. The costing of material components is more sensitive in a process costing system. Job-order costing is focused on each specific job while process costing focuses on departmental activity. Process costing uses only one work-in-progress account while job-order costing uses many work-in-progress accounts

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!