Asked by steven remmenga on May 02, 2024
Verified
Job order costing and process costing are
A) pricing systems
B) cost accounting systems
C) cost flow systems
D) inventory tracking systems
Process Costing
A method of costing used mainly in manufacturing where costs are assigned to batches of products rather than individual items.
Cost Accounting Systems
Systems implemented by businesses to track, record, and analyze costs associated with the products they produce and sell.
Job Order Costing
A cost accounting method used to track the costs associated with a specific job or order, capturing direct labor, direct materials, and applied overhead.
- Acquire knowledge about the key components and uses of job order and process costing systems in manufacturing activities.
Verified Answer
Learning Objectives
- Acquire knowledge about the key components and uses of job order and process costing systems in manufacturing activities.
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