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How job-costing system differs from process costing system

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Reference no: EM132577326

Short Question Answers

Question 1. What is cost pool, cost tracing, cost allocation and cost allocation base?

Question 2. How does a job-costing system differs from process costing system?

In each of the following situations, determine whether job costing or process costing would be more appropriate.

Give justification.

a. An educational institute

b. An oil refinery

c. Bank

d. Hospital

e. A convenience store

f. A supermarket

g. A law firm

h. A plastic manufacturing organisation

Reference no: EM132577326

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