job costing


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Job Costing

The process by which a construction company determines the expenses associated with a particular work order. For example, if a company is asked for a quote to build a parking lot, it first must conduct job costing for labor, materials and so forth to ensure that it is able to produce a profit. It is a type of managerial accounting. See also: Process costing.

job costing

see PRODUCT COSTING.
References in periodicals archive ?
Comprehensive proprietary software for estimating, order tracking, job costing, etc.
On the one hand, job costs are not real because they are contrived through any number of impossible accounting assumptions and cost allocation schemes, so much so that even the Institute of Management Accountants admitted years ago that traditional job costs and job costing should be abandoned.
Since implementing the MIS in 2009, we have been capturing job costing data and we can clearly identify the markets we want to target and the equipment that we need to do that."
Other benefits of the Multi-Pump include more accurate job estimating and job costing, as well as prevention of fuel theft and unauthorized dispensing of fuel.
The first seven questions deal with students' understanding of specific aspects of job costing, such as overhead allocation and the distinction between direct and indirect labor.
For example, the software may assist with estimating but it does not tie into job costing and accounting.
The bar code system includes a tool management system, a maintenance scheduler, inventory control, time and attendance and job costing. Bar code data collection has been proven to be the most accurate and efficient method of tracking or counting tools and equipment.
This simulation embodies these strategies by allowing students to design and build products in a manufacturing environment following the product from design through completion and sale using a job costing methodology.
Additionally, the use of bar code technology through Deacom's Shop Floor Data Collection System can collect payroll and job costing data in real time.
ABS Enterprise 7.2 boasts real-time job costing and reporting, an internal employee calendar, and a new call-center module to help facilitate call load.
This month's column, the third in the XBRL GL by Industry series, is focused on the construction industry and job costing. Previous columns looked at the financial services and wholesale distribution industries.