Job order costing is a system for allocating costs to groups of unique products made to customer specifications.
Process costing is a system for allocating costs to homogeneous units of a mass-produced product.
Hybrid-costing is a system that blends the characteristics of both the job order and process costing systems. Firms using this system typically produce large numbers of closely related products.
Activity-based costing (ABC) is a cost system that focuses on activities, determines their costs, and then uses appropriate cos...
- Module 46: Cost Measurement and Assignment
- from Wiley CPA excel Exam Review 2014 Study Guide, Business Environment and Concepts
- Publisher: John Wiley & Sons
- Released: December 2013