Elaboration in costing

ob costing is where a unique item is being made and costs can be specifically traced into that item.The job could be large (such as building a house or a ship) or small (such as constructing a set of shelving for a room). Often jobs are given identifying numbers, such as contract numbers or simply job numbers.All relevant costs are labelled with that number and the total costs can be accumulated.Material costs: either invoices for specially bought material or requisitions from stores can be labelled with the job number so that material costs can be accounted for.Labour costs: time sheets can…

From: Job, Batch and Process Costing › 2 Job costing