Job costing homework help

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What is job costing?

A technique of allotting cost to the job where the amount of work done is in the form of quantity of jobs completed. With the help of a ledger these job costs are recorded and later added to the final balance statements. It can virtually be installed in any firm to utilize itself as a tool to judge the production cost vs. overhead costs. In this article for Job costing homework help we define the meaning, objectives and procedure of this method.

Documents required in a job costing method

Our Job costing homework help article writers compiled the following as the major documents needed.
1. Production order: this order is to sanction the right of manufacturing to the company the order given by the consumers. This is the starting of any manufacturing process.
2. Cost sheet: to establish the final production value, the cost sheet and work order are combined together.
3. Other documents: papers like material documents, tool tickets, storage and inventory receipts etc.

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Procedure for job costing accounting

The following steps in our Job costing homework help article are the true steps opted in job costing.
1. Receiving an enquiry from the manufacturer to the customer. This is regarding the verification of material and processing used in manufacturing.
2. Estimation of cost of the job is the next stage. Here the taste and mind set of the consumer is considered to decide the price of the product.
3. Receiving of order by the manufacturer if the consumer is content. Job costing homework help article gives details on it.
4. Production order provided by manufacturer among its territory departments along with all the documents.
5. Recording of costs.
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