Thinking of the Middle East, identify at least one item that is most likely produced using product costing, and one item that is most likely produced using process costing. Explain why you think each item would be produced under the system identified.
• Chapter 3 in Managerial Accounting
• Dosch, J., & Wilson, J. (2010). Process costing and management accounting in today’s business environment.Strategic Finance, 92(2), 149-167.
• Bortolotti, T., Danese, P., & Romano, P. (2013). Assessing the impact of just-in-time on operational performance at varying degrees of repetitiveness. International Journal of Production Research, 51(4), 1117–1130.
For Your Success
In the first module, you learned about terminology and concepts in managerial accounting. In the second module, you will learn basic information about job order and process costing systems. We will expand on these costing systems in additional modules.
After finishing the readings for this module, complete the following work:
• Week 3 Discussion Board.
1. Define and identify the primary importance of Activity-Based Costing.
2. Identify the two primary types of product costing systems that firms use.
3. Explain a job order costing system and identify when its use is most beneficial.
4. Define a process costing system and identify when its use is most beneficial.
5. Compare key similarities and differences between job order costing and process costing systems.
chapter 3 managerial account