Question

Process and job costing differ from each other in each of the following ways except _____

Q: Answer-Process and job costing differ from each other in each of the following ways except _____

Under job costing, as production is not continuous and each job may be different, so more managerial attention is required for effective control. On the other hand, under process costing, process of production is usually standardized and is therefore, quite stable. Hence control here is comparatively easier.

A Under job costing, a particular job is carried out as per specified orders while under process costing, there is continuous flow of production of a homogenous product

B Under job costing, cost is determined for each order while under process costing, costs are compiled on time basis.

C Under job costing, costs are computed when a job is completed while under process costing, costs are calculated at the end of the cost period

D Under job costing, the production is standardised and requires less control while under process costing more effective control by management is required as production happens in large quantity

E All are correct

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Process and job costing differ from each other in each of the following ways except _____

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