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1. Is ABC used in the allocation of costs in both Process costing and Job costing?

1. Is ABC used in the allocation of costs in both Process costing and Job costing?

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Answer #1

Process costing is the cost system that is used to allocated costs amongs the different process of manufacturing the product.It is used to allocated the cost among work in process conversion cost and finished cost.

Job costing is the cost systemt that is used to allocate cost among the different products which are not similar.

Activity based costing is used to allocate cost among different products based on the activities which act as the cost drivers.

So activity based costing is used in the allocation of cost in JOB Costing and not in Process costing.

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