Question
Job-Order Costing versus Process-Costing 1. Job-order costing and process costing have the same basic purpose. What is this purpose? 2. Explain under what conditions it
Job-Order Costing versus Process-Costing
1. Job-order costing and process costing have the same basic purpose. What is this purpose?
2. Explain under what conditions it would be appropriate to use a job-order costing system, and under what conditions would it be appropriate to use a process costing system. In your answer, include an example of a company (industry) that would use job-order costing, and a company (industry) that would use process costing.
3. The major difference between job-order costing and process costing is in how product costs are accumulated. Explain how costs are accumulated in job-order costing, and how costs are accumulated in process costing.
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