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.
There are two methods that can be used in process costing. These methods are the weighted-average method (WA) and the first-in, first-out (FIFO) method. The only difference between these two methods is the way in which beginning work in process units and costs are treated.ssign costs to products using first-in, first-out (FIFO) costing. Compare and contrast the results from weighted-average method and FIFO costing. Compare and contrast operation costing with job costing and process costing.