Job costing and process costing systems share the same objective of estimating product costs.

Name: Job costing and process costing systems share the same objective of estimating product costs.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both job costing and process costing systems are used to estimate the cost of producing a product. However, they differ in their methods of assigning costs to the product. Job costing is used for customized products or services, while process costing is used for mass-produced products.

Job Costing and Process Costing Systems Share the Same Objective