Process
Service
Multiple
Job
Answer is Right!
Answer is Wrong!
The correct answer is job costing.
Job costing is a type of costing system that is used to track the costs of individual jobs or projects. It is often used in industries where the products or services are unique or customized, such as construction, manufacturing, and professional services.
Job costing involves identifying the direct costs that can be traced to each job, such as labor, materials, and overhead. These costs are then assigned to each job based on the amount of resources that were used.
Job costing can be used to track the profitability of individual jobs or projects. It can also be used to set prices for new jobs or projects.
Here is a brief explanation of each option:
- Process costing is a type of costing system that is used to track the costs of processes or production runs. It is often used in industries where the products or services are standardized, such as oil refining and chemical manufacturing.
- Service costing is a type of costing system that is used to track the costs of services. It is often used in industries where the products or services are intangible, such as financial services and healthcare.
- Multiple costing is a type of costing system that uses a combination of different costing methods. It is often used in industries where the products or services are a mix of standardized and customized products or services.
- Job costing is a type of costing system that is used to track the costs of individual jobs or projects. It is often used in industries where the products or services are unique or customized.