Job Order Costing System - 20589

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  • Posted on: Mon 29 Jul, 2013
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1. Distinguish between the two types of cost accounts systems. 2. May a company use both types of cost accounting systems? Why or why not? 3. 1. The two types of cost accounting systems are job order and process accounting. Costs are allocated to each job in a job order system. In a process system the cost are allocated or assigned to process for a specified period of time. 4. 2. Companies can use both. The text book gives the example of GM using process accounting for standard car models and job order cost accounting for custom vehicles.

Solution Description

1. Distinguish between the two types of cost accounts systems. 2. May a company use both types of cost accounting systems? Why or why not? 3. 1. The two types of cost accounting systems are jo