Types of Product Costing Systems
{"Image DocumentName": "Types of Product Costing Systems", "Image ImageDescription": "Process Costing. Job-order Costing. A company produces many units of a single product. One unit of product is indistinguishable from other units of product. The identical nature of each unit of product enables assigning the same average cost per unit. Example companies: 1. Asia Pulp & Paper (paper manufacturing) 2. Kang-shi-fu (Instant Noodle Producer) 3. Coca-Cola (mixing and bottling beverages) An example of a company that may consider a process costing system is Asia Pulp and Paper, a manufacturer of paper products. When we think of paper manufacturing, we generally think about continuous production of a single roll of paper that may eventually be cut into sizes needed by customers. Other companies that would benefit from process costing are Kang-shi-fu and Coca-Cola. Certainly the desire of all three of these companies is to make each unit of output consistent with the quality standards established. Coca-Cola bottled in California should taste identical to the same product bottled in New York City.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}