Question: Briefly explain the differences between Process Costing and Job Order Costing with examples. What is the difference between Direct Labour Cost and Indirect Labour Cost?

Briefly explain the differences between Process Costing and Job Order Costing with examples.

What is the difference between Direct Labour Cost and Indirect Labour Cost? Please provide example.

Why timing is important for Pre Determined Overhead Rate? What do you do under or over applied rate?

What happens to the average unit cost if an additional unit is produced? Does fixed cost change with an additional unit production?

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