Question

Find a journal article online about job costing systems. Post a link to that article with your initial post, and provide a summary and a reaction to the article. The summary should be approximately 250 words, and the reaction should be approximately 150 words. The summary should describe the major points of the article, and the reaction should demonstrate your interpretation of the article and how you can apply that knowledge.

Please provide a reference, thank you.

Answer 1

Answer:

A job costing involves the process of accumulating information about the costs associated with a specific production or service job. This information may be required in order to submit the cost information to a customer under a contract where costs are reimbursed.

Job costing involves the accumulation of the job cost of material, labour and overhead for a speciifc job. For example job costing is appropriate for deriving the cost of constructing a custom machine, designing a software program, construcuting a building or manufacturing a small batch of products.

Job order costing or job costing is a system for assining and accumulating manufacturing costs of an individual unit of output. The job order costing is used when the various items produced are sufficiently different from wach other and each has a significant post.