--%>
Assignment Help - homework help

Define Job Costing

Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs.

As both kinds of costs are generally closely related (that is, a job requiring high input of labor and material is probable to consume more power, supervision time, machine time, inspection time, and so on) indirect costs might be applied as an predicted fraction of direct costs. Job costing techniques are alike to contract costing and batch costing techniques, and are employed in construction, motion picture, shipping industries, and in fabrication, repair, maintenance works, and in services like auditing.

   Related Questions in Managerial Accounting

  • Q : Describe Trust Accounting Trust

    Trust Accounting: It is the "accounting of each and every item of income and expenditures which are employed to find out the amount that certain beneficiaries will obtain from the trust each year." Actually, it is equivalent to all the revenues receiv

    		•
  • Q : Conditions in which fixed capital of

    Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:

    		•
  • Q : Acquisition entry on Balance Sheet 1.

    Q : Selecting strategic options and

    Write a short note on selecting strategic options and formulating the plans?

    		•
  • Q : Factors due to changing business

    What are the various factors which occurred due to the changing business landscape?

    		•
  • Q : Activity-based budgeting Normal 0 false

    Normal 0

  • Q : Comparative-Advantage Approach to

    We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w

    		•
  • Q : Contents of a partnership deed State

    State some contents of a partnership deed. Answer: A) Name of the firm.B) Name and complete address of the Partners.C) The date of formation and period of Partnership.D) Ratio in which gain or loss

    		•
  • Q : Federal budget Choose the right answer

    Choose the right answer from following. Which one did not contribute to the large Federal budget deficits in the year of 2002 and 2003? A) spending on the wars in Afghanistan and Iraq. B) low interest rates. C) Federal tax cuts. D) the recession of 2001 and its afterm

    		•
  • Q : Define Variance Variance : The rate,

    Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.

    		•