Which of the following more closely describes job-order and process accounting differences?

Question

Quizplus · Accepted Answer

The main difference between job-order cost and process cost is the way in which costs are assigned. In job-order cost, costs are assigned to specific jobs or customers, while in process cost, costs are assigned to departments or processes. Option A is incorrect as the decision to use job-order or process costing is not based on the ratio of material to labor costs. Option C and D are both incorrect as both job-order and process costing methods apply overhead costs.

Which of the Following More Closely Describes Job-Order and Process