Describe JOC in accounting

Question

Describe JOC in accounting?

Answer 1

JOC means Job Order Costing and it is a portion of Cost Accounting.

The job order costing system is employed whenever a job or batch is appreciably distinct from other batches or jobs. The cost accounting is generally fairly simple in such systems. The Labor and materials are entered on a job ticket. Overhead is generally added to the amount the customer will be charged for materials and labor.