Job Order Costing System Definition: A costing system used in situations where many different products, jobs, or services are produced each period. Click here to read detailed about job order costing system
job order costing
job order costing system is used in situations where many different products are produced each period. For example clothing factory would typically made many different types of jeans for both men and women during a month.
Job Order Costing – The Flow of Cost: Learning objective of this article: Understand the flow of costs in a job order costing system and prepare appropriate journal entries to record cost. Apply overhead cost to work in process using a predetermined overhead rate.
Definition and Explanation of Process Costing System: Cost accumulation procedures used by manufacturing concerns are classified as either job order costing or process costing. The Job Order Costing System chapter deals with the procedures applicable to job order costing. It is important to understand