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Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins
Edition 5ISBN: 0073526940Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins
Edition 5ISBN: 0073526940Choice of Costing System
Required The following is a list of Web sites for a number of non-U.S. companies. Briefly describe each company and indicate whether it is more likely to use job costing or process costing. Explain why in each case.
1. Zurich Financial Services Group at www.zurich.com.
2. Reichhold Chemical Co. at www.reichhold.com
3. Nestle S.A. at www.nestle.com.
4. Coca-Cola at www.coca-cola.com
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Job costing system is a system where costs are accumulated and then are allocated to certain project, job, customer, etc. It is applicable for companies which are producing many different products or doing separate jobs. Process costing is used when firms are producing single product or products which cannot be distinguished. Here, the cost of each separate process is calculated.
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