SUMMARY (COMPARISON OF JOB AND PROCESS ORDER COSTING

Subject: Consumer Behavior

Paper Model: APA

Paper Type: Case Study

Total Words: 942

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Job and process order costing are two important accounting methods. These are used for calculating cost of product


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Job and process order costing are two important accounting methods. These are used for calculating cost of product. Both methods are used widely. There two are most common and practical approaches for calculating cost. Companies decide methods as per its compatibility with workflow. Both methods are used for allocating material, labor and overhead cost associated with products.  Assigning cost of manufacturing to individual or group of products is called job costing. This cost is assigned when manufactured products are sufficiently different from one another. This technique is used for creating record of each item.

It would analyze labor, material and overhead cost that assigned to each job. In job order, costing, entire work is divided into different jobs. Each job is tracked separately. It is used for jobs where one batch differs from other. It is used for products like auto machines, computer repair etc. For example, if you go to auto mechanic he used to start working on our job track. Job costing method would be used in case of manufacturing customized towels. Total labor associated for completion of project would be recorded sheet of time after that it would be compiled on cost sheet.

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