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In a page, explain the similarities and differences between job costing and process costing methods in...

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Accounting

In a page, explain the similarities and differences between jobcosting and process costing methods in a manufacturing environment,and construct and use operational budgets for a manufacturingcompany.

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Answer Similarities of job costing and process costing in a manufacturing environment Similarity of job costing and process costing is the both have a same goal of to determine the cost of product Job costing process costing both have a same cash flow Similarity of job costing and process costing of direct material labor and manufacturing overhead In the job costing and process costing unit cost information is needed by management for decision making Difference between job costing and process costing Job costing is    See Answer
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