Question

Job Costing vs. Process Costing: Example: Select a company of your choice and explain when they migh use job costing and when they might use process costing. Cite your work and include sufficient detail. Service Industry Costing: Differences: Explain why costing methods used in the service industry are different from those used in the manufacturing or merchandising industries. Service Industry Costing: Benefits: Select a service industry company of your choice that uses costing and explain the benefits of costing for service companies. Cite your work and include sufficient detail.
please choose a company that uses Job costing and process costing and explain the benefits of each.

Answer 1

Examples of companies that use Job contract costing are : Boeing (Airplanes) and Deloitte accounting and consulting firm.

Examples of campanies using process costing are:Chevron Corporation (petroleum products), the Wrigley Company (chewing gum)

Differences between the processes are as under:

Basis of Difference	Process Costing	Job costing
Product costs	Product costs are assigned to departments (or processes).	Product costs are assigned to jobs.
Unit cost information	Unit cost information comes from the departmental production cost report.	Unit cost information comes from the job cost sheet.
Inventory accounts	Several different work-in-process inventory accounts are used—one for each department (or process).	One work-in-process inventory account is used—job cost sheets track costs assigned to each job.