Asked by Harry Nayan on Jul 21, 2024
Verified
Job-order costing is used in manufacturing companies and process costing is used in service firms.
Process Costing
An accounting methodology used for homogeneous products, allocating manufacturing costs to units of output on an average basis.
- Identify the differences in process costing and job-order costing through the lens of product types manufactured.
Verified Answer
ZN
zishan naziaJul 23, 2024
Final Answer :
False
Explanation :
This statement is false. Job-order costing is used in manufacturing and service firms that produce unique, custom products or services. Process costing is used in manufacturing and service firms that produce standardized, identical products or services in large quantities.
Learning Objectives
- Identify the differences in process costing and job-order costing through the lens of product types manufactured.
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