Question
Read the article Process Costing. The author states that accountants and prospective accountants who study cost accounting are taught that there are only two systems:
Read the article Process Costing. The author states that accountants and prospective accountants who study cost accounting are taught that there are only two systems: job costing or process costing. He goes on to mention that there is a third that should be taught, which is operation costing. As you read, consider the following questions: What is operation costing? How is it similar to job and process costing? How is it different? Also read the article Job Costing: A Contractor's Perspective. Once you have read these articles, address the following in your initial post:
- Choose a local contractor or manufacturer in your community and suggest which costing system would be most appropriate for the company.
- Explain why the costing system you chose is the best option. Support with specific examples, where applicable.
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