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Online Accounting Dictionary
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Job costing is a product costing system when costs are accumulated by specific job orders (e.g. Job Order XX2, Job Order 02357) and assigned to batches of products. In other words, manufacturing costs are assigned to specific jobs: specific customers, specific orders, specific projects, specific contracts, etc. Job costing is often used by small and medium-sized firms. Also, it is often used in the following industries: professional services (e.g. medical, legal), advertising agencies, construction, shipbuilding, custom equipment/furniture manufacturing, etc.
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