Which of the following is true regarding job costing?
A) It is a type of product costing system used for small numbers of products produced in distinct batches.
B) It is used exclusively in manufacturing environments.
C) It is used for continuous mass production of products.
D) It is used exclusively for products of a similar nature.

Question

Quizplus · Accepted Answer

Job costing is a type of product costing system used for small numbers of products produced in distinct batches. This means that the costs are assigned to each job or batch of products, rather than to the entire production process. It can be used in both manufacturing and service environments. Job costing is typically used for custom-made or unique products that require a specific set of inputs or resources.

Which of the Following Is True Regarding Job Costing