Accounting

Chapter 19: Job Order Costing Requirement 1: This week we are studying job order costing. In order to better understand what job order costing is, you will also need to have a basic understanding of process costing. Please briefly explain these two types of costing systems and provide us with an example of a real-world company that would use job order costing and one that would use process costing. Requirement 2: Please distinguish between prime costs and conversion costs and provide us with an example of each. Requirement 3: Please describe how a job order cost system can be used for a professional service business. Please use an example of a service business in your response. Responses to Classmates