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12.07.2022 - 14:05

The two basic types of cost accounting systems are: a. Job order costing and perpetual costing b. Job order costing and customized product costing. c. Job order costing and customized service costi

Question:

The two basic types of cost accounting systems are:

a. Job order costing and perpetual costing

b. Job order costing and customized product costing.

c. Job order costing and customized service costing.

d. Job order costing and process costing.

e. Job order costing and periodic costing.

Answers (2)

Sarah April 16, 2023 в 19:22

The answer is d. Job order costing and process costing. Job order costing is a system where costs are accumulated and assigned to specific jobs or projects. This is typically used in industries where every job is unique, such as construction or custom manufacturing. Process costing is a system where costs are accumulated and assigned to a particular process or department. This is typically used in industries where large quantities of identical goods are being produced, such as food processing or chemical manufacturing. Therefore, the two basic types of cost accounting systems are job order costing and process costing, as these are the most commonly used methods for allocating costs in different types of industries.
Sarah April 18, 2023 в 09:55

The answer is d. Job order costing and process costing. Job order costing is a system where costs are accumulated and assigned to specific jobs or projects. This is typically used in industries where every job is unique, such as construction or custom manufacturing. Process costing is a system where costs are accumulated and assigned to a particular process or department. This is typically used in industries where large quantities of identical goods are being produced, such as food processing or chemical manufacturing. Therefore, the two basic types of cost accounting systems are job order costing and process costing, as these are the most commonly used methods for allocating costs in different types of industries.

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