ACCT 301 Saudi Electronic University FIFO and WA Methods Questions

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fununqnyfunevs31

Business Finance

ACCT 301

Saudi electronic university

ACCT

Description

Explanation & Answer:
5 Questions
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Explanation & Answer

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College of Administration and Finance Sciences

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allocated folder.
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Assignment Question(s):

(Marks 10)

Q1. Explain how job costing is used in service sectors and manufacturing sectors? Provide
examples by citing one job costing example of the service sector and one example of the
manufacturing industry of a Saudi company to support your answers.

(CH 5, 2

Marks)
Answer:
Job costing is used to trace costs associated with producing a given product or service depending on
the industry. Costs related to the individual job are accumulated in the cost centers. In the service
industry, managers can record the time associated with each job. A good example of cost
accumulation is timesheets to record emplo...


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