Briefly explain the difference between job order and process costing and give examples of each
What will be an ideal response?
In a job costing system, costs accumulate for each batch or job. It is appropriate for companies that manufacture unique products or provide specialized services. Examples of companies that might use job costing include building contractors, custom furniture makers, and law firms. Other companies produce a uniform number of identical units through a series of uniform production steps or processes. These companies would use process costing. Examples would include banks, food and beverage manufacturers, and pharmaceutical companies.
Business