12. Job and Batch Costing Flashcards
1
Q
What is a ‘job’?
A
A customer order or task of relatively short duration
2
Q
What is job costing?
A
A form of specific order costing where costs are attributed to individual jobs
3
Q
When is overtime charged to a job?
A
Only if it was specifically requested in order to complete a certain job
4
Q
What is batch costing?
A
A form of specific order costing where costs are attributed to batches of product
5
Q
How do you calculate unit cost from batch cost?
A
Dividing the batch cost by the number of products in the batch