Cost Accounting - 3 Questions

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Your CFO needs to decide whether to set up a job order costing system or a process costing system. You plan to meet with her in the morning. Prepare your notes on the following points:

  • Compare and contrast job order costing and process costing methods.
  • Give examples of the types of system that work best in different kinds of companies.
  • Given that you plan to start with only one version of your product, but at some point in the future many offer a variety of options, what kind of system makes sense for your company? Why?

 

The following rubric will be used for grading:

Grading Rubric

30%

Compare and contrast job order costing and process costing methods.

30%

Give examples of the types of system that work best in different kinds of companies.

30%

15%: What kind of system makes sense for your company?

15%: Why?

10%

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    • 9 years ago
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