Briefly explain how the flow of costs in a job-order costing system follows the flow of the physical production (i.e., from raw materials purchases to sales and cost of goods sold). Make sure to include how the overhead account is 'closed' to a zero

 In general, would you expect high-volume jobs to be over-costed or under-costed under a traditional, volume-based costing system relative to an ABC costing system? Briefly explain.

Answer rating: 100% (QA)

In a joborder costing system the flow of costs follows the flow of physical production from raw materials purchases to sales and cost of goods sold He... View the full answer