7.16: Introduction to Job Order Costing
- Page ID
- 45866
\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \) \( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)\(\newcommand{\id}{\mathrm{id}}\) \( \newcommand{\Span}{\mathrm{span}}\) \( \newcommand{\kernel}{\mathrm{null}\,}\) \( \newcommand{\range}{\mathrm{range}\,}\) \( \newcommand{\RealPart}{\mathrm{Re}}\) \( \newcommand{\ImaginaryPart}{\mathrm{Im}}\) \( \newcommand{\Argument}{\mathrm{Arg}}\) \( \newcommand{\norm}[1]{\| #1 \|}\) \( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\) \( \newcommand{\Span}{\mathrm{span}}\) \(\newcommand{\id}{\mathrm{id}}\) \( \newcommand{\Span}{\mathrm{span}}\) \( \newcommand{\kernel}{\mathrm{null}\,}\) \( \newcommand{\range}{\mathrm{range}\,}\) \( \newcommand{\RealPart}{\mathrm{Re}}\) \( \newcommand{\ImaginaryPart}{\mathrm{Im}}\) \( \newcommand{\Argument}{\mathrm{Arg}}\) \( \newcommand{\norm}[1]{\| #1 \|}\) \( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\) \( \newcommand{\Span}{\mathrm{span}}\)\(\newcommand{\AA}{\unicode[.8,0]{x212B}}\)
What you’ll learn to do: Examine the job order cost accounting system
Job order costing is used when many different products with different features are produced during a particular period. This process allows companies to allocate all of the costs incurred in a business, whether direct or indirect to jobs. We will discuss service and manufactured jobs, and follow a couple jobs from the beginning to end.
We will discuss the meaning of absorption costing, and how it helps businesses to see a clearer picture when figuring out prices for the products or services they offer.
CC licensed content, Original
- Introduction to Job Order Costing. Authored by: Freedom Learning Group. Provided by: Lumen Learning. License: CC BY: Attribution
CC licensed content, Shared previously
- business meeting. Authored by: Piotr Krzyzanowski. Provided by: Unsplash. Located at: https://unsplash.com/photos/tXp6wxNgxKY. License: CC0: No Rights Reserved