Homework SourseQUESTION 5 Give two examples of an industry that would use
QUESTION 5 Give two ) examples of an industry that would use Job Order Costing. A In your own words, define what is meant by .Job Order Cost System.\" B] In your own words, define, alternatively, what is mean by Processing Costing.\" Give two (2) examples of an industry that would use Processing Costing. BE T TIT Paragraph : Arial : 3(12pt) ·-·-·T· ·? HTHL CS5 words:0 QUESTION 6 ![QUESTION 5 Give two ) examples of an industry that would use Job Order Costing. A In your own words, define what is meant by .Job Order Cost System.\](/WebImages/33/question-5-give-two-examples-of-an-industry-that-would-use-1097169-1761578869-0.webp "QUESTION 5 Give two ) examples of an industry that would use Job Order Costing. A In your own words, define what is meant by .Job Order Cost System.\")
Solution
Answer: Job order cost system - Under this system, costs are assigned to a specific product or batch of products. Generally, the job order cost system is by the company which deals with the different types of products or jobs.
Example of industry: consulting firms and building construction companies.
Processing Costing: In this system the total cost on production of identical products is determined and allocated to individual unit produced. Generally, process cost system is used by the companies which produce homogeneous products.
example of industries: bricks manufacturer and candy manufacturer.
