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Job costing vs process costing

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Question

Job costing vs process costing;EEC has introduced a new 1.5 gigabyte (GB) computer memory chip.;Should EEC use a job-order costing system, which is a costing system where costs are collected and assigned to units of production for each individual job, or a process costing system, which is a costing system that accumulates production costs by process or department for a given period of time, to report the costs of this new product?;How are the systems different?;Describe how the selected system would work to track the costs of the product.;Identify the cost driver, and explain the process of tracking the costs.;Provide examples of products that EEC might offer for which a job-order costing system would be appropriate.;Provide examples of products that EEC might offer for which a process costing system would be appropriate.

 

Paper#28840 | Written in 18-Jul-2015

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