Job order costing and process costing are
A) pricing systems
B) cost accounting systems
C) cost flow systems
D) inventory tracking systems

Question

Quizplus · Accepted Answer

Job order costing and process costing are both cost accounting systems used by companies to determine the cost of producing a product or service. Job order costing tracks the cost of producing a specific product or service, while process costing tracks the cost of producing a product or service that goes through a series of steps or processes. Both systems are used to calculate the cost of goods sold and help management make informed decisions about pricing and profitability.

Job Order Costing and Process Costing Are