These cost accounting manuals describe traditional product costing practices, namely, job order costing, standard costing, and direct costing.
The computer program is intended to calculate a company's product cost and to create competitive bids for quotes and is based on traditional costing principles using job order costing that allows companies to maintain separate records for each quote request that can be archived and recalled at a future date to assist in preparing quotes for similar products in the future.
The final section covers traditional managerial accounting topics of classifying costs, job order costing
, direct and absorption costing, and standard costing.
I was able to identify more technical themes that lent themselves to self-directed learning (job order costing
, process costing and standard costing, for the technical portion) and other themes that could be studied in theme-based simulation exercises (cost behaviour, actual cost, budgeted cost and standard cost for the portion devoted to variance analysis).
The accountant asks to look at the job order costing
system to try and find an answer.
This month we'll continue with a discussion of the specific methods of cost accumulation using job order costing
The two traditional methods of product cost accounting are job order costing
and process costing.