In a job order cost system, direct labor and factory overhead applied are debited to individual jobs. How are these items treated in a process cost system and why?

The way the costs of direct labor and factory overhead applied are treated in a process costing system is different from their treatment in a job costing system.  In process costing system, they are debited to the Work in Process account.

The reason for this is that in process costing, costs are not directly attributable to individual jobs.  Instead, costs are accumulated in Work in Process before they are assigned to individual production units.

Explanation:

Job order costing system accumulates costs for individual jobs while a process costing system accumulates costs in the Work in Process account and then allocates the costs to individuals units of production.  The difference depends on the nature of the two systems and how possible it is to identify the costs and attribute them to individual jobs or units.

a. $48.75

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hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi