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.
Process Costing. Process costing is a cost accounting system in which direct costs are traced and indirect costs are allocated to processes carried out in different departments. The cost of finished goods is then computed based on average cost accumulated at the end of the last department.nlike job-order costing, which is another widely-used costing system, process costing averages out costs over all departments and values the finished products and closing work in process, if any, using either the first-in-first-out (FIFO) or weighted-average convention.