What are some effective cost accounting techniques?
An example of an AI chatbot conversation about cost accounting techniques.
What are some effective cost accounting techniques?
Some effective cost accounting techniques include job order costing, process costing, and activity-based costing.
Can you explain activity-based costing in more detail?
Activity-based costing (ABC) allocates overhead costs based on activities that drive costs, providing more accurate product costing.
What are the benefits of using job order costing?
Job order costing helps in tracking costs for specific jobs, improving cost control and pricing accuracy.
How does process costing differ from job order costing?
Process costing is used for mass production of similar items, while job order costing is for unique, custom jobs.
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