Process costing is used for mass production where costs are accumulated for each production department and unit costs are computed based on normal production, while job costing tracks costs for specific jobs or orders where unit costs are computed after a job or order is complete based on actual costs incurred.
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Manali - Costing
Process costing is used for mass production where costs are accumulated for each production department and unit costs are computed based on normal production, while job costing tracks costs for specific jobs or orders where unit costs are computed after a job or order is complete based on actual costs incurred.
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DIFFERENCE BETWEEN
PROCESS COSTING & JOB COSTING
Usage of Methods Accumulation of Cost Key Documents Computation of Unit Cost Calculation of Final Unit Production Availability of Unit Cost Work in Progress