When are companies likely to use a job costing system

Asked by admin @ 28/10/2021 in Business viewed by 294 People

Which costing system (Process Costing or Job Costing) would the following companies employ to determine the cost of its products? Warner Bros. Motion Pictures A. Job Costing B. Process Costing Jif Peanut Butter A. Process Costing B. Job Costing Hill Country Medical Practice A. Job Costing B. Process Costing Kraft, Inc. A. Job Costing B. Process Costing

Answered by admin @ 28/10/2021

Answer:

The companies would adopt costing system as shown below:

Warner Bros.Motion Pictures-Job order

Jif Peanut Butter-Process Costing

Hill Country Medical Practice-Job order

Kraft, Inc-Process Costing

Explanation:

Process costing is a cost accounting approach for gathering and assigning manufacturing costs to quantity produced.It is typically suitable where there is mass production.Since Kraft and Jif Peanut Butter produce food items in mass,process costing fits perfectly.

Job order costing on the other hand,is most appropriate when products or services are tailored to customer's request ,each with its unique features,hence unique cost structure.The movies produced by Warner Bros,Motion Pictures share the unique nature, so also a medical practice would have to handle surgeries that are not exactly similar.

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2738 persons

When are companies likely to use a job costing system

Similar Questions

Assume that the company uses absorption costing

Under a job order cost system costs are accumulated for

The cost accounting system which is used when producing customized

Under a job order costing system the product being manufactured

In a job-order costing system, indirect labor cost is usually recorded as a debit to:

Jammer company uses a weighted average perpetual inventory system and reports the following:

Compute the total manufacturing overhead costs allocated to job 494

How to use elimination to solve the system of equations

How to solve a system of equations using inverse matrices

3 7 solving systems of equations using cramer's rule answers

Which of the following operating systems is most commonly used

How to use cramer's rule to solve system of equations

Using linear systems to solve problems a 2 5 answers

Solving systems using multiplication with the elimination method 8.5 answers

What jobs were working class children most likely to hold

Most viewed questions in Business

Foolproof module 9 test answers

Interest rates are expressed as a percentage of

How to enhance knowledge regarding environmental factors through capsim?

Match the job titles with the career clusters.

A company that allows you to license software

Lupe is ready to open a checking account

Mays and mccovey are beer brewing companies

What must be marked on ready to eat bags phfs

Coq six sigma

Henry ford was the first entrepreneur to implement which strategy

Your company was recently served with a lawsuit

Case study starting a business project schedules and curves edgenuity

Which two of the four cs of credit have to do with earning potential and available cash?

The total annual expenditures on advertising in the united states