Question

A company may use job costing to assign costs to different product lines and then use process costing to calculate uniot costs within each product line. T/F

Answer 1

Answer:

The statement is "TRUE"

Explanation:

The process costing is used when there is mass production of equal or similar products, it helps to assign all the costs required to produce a line of products.

Job cost is used for calculating costs for different jobs (referring to services) or products (referring to manufacturing). It works under the thought that every job/product is different and the supplies needed are different on each.

Both are methods to calculate costs, the usage of one or another varies depending on the type of business.