This product or service is called a deliverable. Where appropriate, you can record information about the deliverables in your project. Tip: This article is part of a series of articles within the Project Map that describe a broad set of project management activities.
Kâs Premier Cabinets uses job costing to calculate the cost of jobs as they are completed. The company estimates that it will have $1,250,000 in overhead costs in 2015. The company believes that employees will work 200,000 hours and that 150,000 machine hours will be used during 2015.
Moreover, when it comes to documentation, in case of Job Costing, the job cost sheet is important whereas in Process Costing a document having deposition and accumulation of various costs is important. In summary, there are various differences between Job Costing and Process Costing methods. Some of these are listed below: 1. Job Costing signifies the costs encountered for each and every job whereas Process Costing signifies the costs encountered for different departments.