In this lesson, Nick Palazzolo, CPA, breaks down the intricacies of job-order costing, explaining how this method is essential for unique, custom orders ranging from manufacturing to specialized services. He illustrates how costs are aggregated by individual job rather than department due to the distinctive nature of each project. Nick further clarifies the process of assigning costs and allocating production expenses for products and services that are distinguishable and require different amounts of effort to finish. This thorough breakdown provides a clear understanding of how customized jobs are costed in various industries.
Lesson: Job-Order Costing
Instructor: Nick Palazzolo
In this lesson, Nick Palazzolo, CPA, breaks down the intricacies of job-order costing, explaining how this method is essential for unique, custom orders ranging from manufacturing to specialized services. He illustrates how costs are aggregated by individual job rather than department due to the distinctive nature of each project. Nick further clarifies the process of assigning costs and allocating production expenses for products and services that are distinguishable and require different amounts of effort to finish. This thorough breakdown provides a clear understanding of how customized jobs are costed in various industries.
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Performance Analysis & Cost Accounting
Module:
4 Concepts,
44 Lessons
Productivity Ratios
4:20
Benchmarking
2:30
Reorder Point
4:40
Costs of Quality
4:54
Balanced Scorecard
10:35
Return on Investment
8:16
Traditional Costing
5:04
Process Costing
1:39
Job-Order Costing
1:25
Activity-Based Costing
10:18
Direct Costs
16:11
Indirect Costs
2:07
Spoilage
2:00
Relevant Range
3:07
