Which type of costing system measures material, labor and overhead: (i) job costing, (ii) process costing?

Question

Quizplus · Accepted Answer

Both job costing and process costing systems measure material, labor, and overhead costs. Job costing is used when products or services are unique and produced in small batches, while process costing is used for standardized products made in large quantities. Regardless of the type of costing system, the goal is to allocate costs accurately to determine the cost of production per unit.

Which Type of Costing System Measures Material, Labor and Overhead