Job costing is a type of cost accounting 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 manufacturing, construction, and professional services.
Job costing is a process of accumulating costs by job or project. The costs are then assigned to the job or project based on the resources that were used. The resources can include materials, labor, and overhead.
The purpose of job costing is to determine the cost of each job or project. This information can then be used to set prices, determine profitability, and make other business decisions.
Job costing can be a complex process, but it is essential for businesses that need to track the costs of their products or services.
The correct answer to the question “Job costing used in __” is:
- C. printing works
Printing works are a type of business that produces printed materials, such as books, magazines, newspapers, and brochures. Job costing is used in printing works to track the costs of each job, which can vary depending on the size, complexity, and materials used.
The other options are incorrect because:
- A. paper mills produce paper, which is a commodity product that is not typically produced on a job-by-job basis.
- B. chemical works produce chemicals, which are also commodity products that are not typically produced on a job-by-job basis.
- D. textile mills produce textiles, which are manufactured products that are typically produced in large batches.