difference beteeen unit costing and job costing
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Answer:
Difference between unit costing and job costing Job costing is used for very small production runs, and process costing is used for large production runs. Job costing refers to usage for uniques products amd process costing also know as unit costing refers to usage for standardized products.
Explanation:
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Answer
Difference # Job Costing:
1.Production is against specific orders.
is against specific orders.
2. Costs are determined for each job separately.
3. Each job is separate and independent of others.
4. Total cost of a job is divided by the number of units produced in the job in order to calculate unit cost of a job.
5. Costs are compiled when a job is completed.
Difference # Process Costing:
1.Production is in continuous flow; the products being homogeneous.
2. Costs are compiled for each process for department on time basis i.e., for production of a given accounting period.
3. Products lose their individual entity as they are manufactured in a continuous flow.
4. The total cost of each process is divided by the total production for the process to calculate the average cost per unit for the period.
5. Costs are calculated at the end of the cost period.