Job Costing 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
form of specific order costing where costs are attributed to individual jobs
3
Q
Is overtime charged?
A
Only if it is specifically requested by the customer
4
Q
How do you create a ledger account?
A
Inputs on the left, outputs on the right
(costs/overheads, materials all in left) (anything transferred out is in outputs)
Has to balance at both sides at the end of the month
5
Q
What is batch costing?
A
form of specific order costing where costs are attributed to batches of units
6
Q
If you have the new cost and that was 20% more than the original?
A
Y x 20/80
