short note job costing
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Job costing is defined as a method of recording the costs of a manufacturingjob, rather than process. With job costing systems, a project manager or accountant can keep track of the cost of each job, maintaining data which is often more relevant to the operations of the business.
Job costing is defined as a method of recording the costs of a manufacturingjob, rather than process. With job costing systems, a project manager or accountant can keep track of the cost of each job, maintaining data which is often more relevant to the operations of the business.
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An order-specific costing technique, used in situations where each job is different and is performed to the customer's specifications. Job costing involves keeping an account of direct and indirect costs.
Since both types of costs are usually closely related (a job requiring high input of laborand material is likely to consume more power, machine time, supervision time, inspection time, etc.) indirect costs may be applied as an estimated fraction of direct costs. Job costing methods are similar to contract costing and batch costing methods, and are used in construction, motionpicture, and shipping industries, in fabrication, repair, and maintenance works, and in services such as auditing.
Since both types of costs are usually closely related (a job requiring high input of laborand material is likely to consume more power, machine time, supervision time, inspection time, etc.) indirect costs may be applied as an estimated fraction of direct costs. Job costing methods are similar to contract costing and batch costing methods, and are used in construction, motionpicture, and shipping industries, in fabrication, repair, and maintenance works, and in services such as auditing.
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