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  3. in unit 1, we looked at the various costing system

In Unit 1, we looked at the various costing systems such as job costing and...

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Accounting

In Unit 1, we looked at the various costing systems such as job costing and process costing. If a company was considering using one of these two systems, what things should they consider? Provide a 2-paragraph (minimum) reply using proper grammar and professional style discussing:

  • The considerations that should be evaluated before selecting an appropriate costing system. What systems work better for different types of companies? When would each system be appropriate?
  • The different types of information that would need to be determined, recorded and tracked. What types of costs would need to be tracked in each type of system? At what level would the costs need to be tracked (unit, batch, etc.)? What complications could arise from this?

The post needs to contain relevant terminology and a firm understanding of the various cost systems being discussed in order to achieve the maximum number of points.

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