8

Job Costing and Batch Costing

LEARNING OBJECTIVES

After studying this chapter you should be able to:

  1. Understand the meaning of job costing.

  2. Comprehend the special features of job costing.

  3. Ascertain the cost of each job—procedure and necessary records to be maintained.

  4. Understand the concept of batch costing.

  5. Learn the features of batch costing.

  6. Adopt the procedure for computing the cost of a batch.

  7. Explain the concept of batch quantity.

  8. Compute profit from a job or a batch.

  9. Explain the meaning of important key terms.

In an era of technological revolution, industries have grown in volume and varied in activities of production. Each industry has its own special characteristic features. One such variety is specific-order industries. Specific-order ...

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