Question

In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing.

• Define each method and explain when it is best suited to be used.
• Compare and contrast the methods and consider their benefits and shortfalls.
• Use the information provided to propose which cost method should be used to allocate costs.

Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes.

There is no one “correct” answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning.

Superior papers will include the following when responding to the assignment question:

• Define the three costing methods.
• Explain when each is most appropriately used.
• Compare and contrast the methods, considering both benefits and shortfalls.
• Provide a well-supported proposal for the cost method Wet Suit World should use.

  In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing.

• Define each method and explain when it is best suited to be used.
• Compare and contrast the methods and consider their benefits and shortfalls.
• Use the information provided to propose which cost method should be used to allocate costs.

• Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes.

  There is no one “correct” answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning.

  Superior papers will include the following when responding to the assignment question:

• Define the three costing methods.
• Explain when each is most appropriately used.
• Compare and contrast the methods, considering both benefits and shortfalls.
• Provide a well-supported proposal for the cost method Wet Suit World should use.

  In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing.

• Define each method and explain when it is best suited to be used.
• Compare and contrast the methods and consider their benefits and shortfalls.
• Use the information provided to propose which cost method should be used to allocate costs.

• Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes.

  There is no one “correct” answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning.

  Superior papers will include the following when responding to the assignment question:

• Define the three costing methods.
• Explain when each is most appropriately used.
• Compare and contrast the methods, considering both benefits and shortfalls.
• Provide a well-supported proposal for the cost method Wet Suit World should use.

  In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing.

• Define each method and explain when it is best suited to be used.
• Compare and contrast the methods and consider their benefits and shortfalls.
• Use the information provided to propose which cost method should be used to allocate costs.

• Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes.

  There is no one “correct” answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning.

  Superior papers will include the following when responding to the assignment question:

• Define the three costing methods.
• Explain when each is most appropriately used.
• Compare and contrast the methods, considering both benefits and shortfalls.
• Provide a well-supported proposal for the cost method Wet Suit World should use.

  In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing.

• Define each method and explain when it is best suited to be used.
• Compare and contrast the methods and consider their benefits and shortfalls.
• Use the information provided to propose which cost method should be used to allocate costs.

• Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes.

  There is no one “correct” answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning.

  Superior papers will include the following when responding to the assignment question:

• Define the three costing methods.
• Explain when each is most appropriately used.
• Compare and contrast the methods, considering both benefits and shortfalls.
• Provide a well-supported proposal for the cost method Wet Suit World should use.

  In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing.

• Define each method and explain when it is best suited to be used.
• Compare and contrast the methods and consider their benefits and shortfalls.
• Use the information provided to propose which cost method should be used to allocate costs.

• Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes.

  There is no one “correct” answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning.

  Superior papers will include the following when responding to the assignment question:

• Define the three costing methods.
• Explain when each is most appropriately used.
• Compare and contrast the methods, considering both benefits and shortfalls.
• Provide a well-supported proposal for the cost method Wet Suit World should use.

  In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing.

• Define each method and explain when it is best suited to be used.
• Compare and contrast the methods and consider their benefits and shortfalls.
• Use the information provided to propose which cost method should be used to allocate costs.

• Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes.

  There is no one “correct” answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning.

  Superior papers will include the following when responding to the assignment question:

• Define the three costing methods.
• Explain when each is most appropriately used.
• Compare and contrast the methods, considering both benefits and shortfalls.
• Provide a well-supported proposal for the cost method Wet Suit World should use.

Answer 1

Job order costing, process costing and activity based costing all three are the different concepts of costing and different methods of the costing

under the job order costing method assigning or allocating cost to a specific unit product or item for example we can say that a company it constructing a building on a land and then the cost of constructing the building is a job order costing means construction of a building is a particular job cost incurred on manufacturing on construction of building a job order costing

on the other hand process costing different from the job order costing as it is a method for assigning allocating of cost for mass quantity of product or we can say services that we can a company manufactures computer pendrive for thousands of the customers then the cost of completion of PD process is example of process costing   

The activity based costing is the totally different concept from a job order costing and process costing as in activity based costing the cost is calculated on the basis of the activity that what number of the activities and on the basis of classification of the activities

Each of the three costing method job order costing process costing and activity is costing has its own benefits and shortfall No one can replace the another or fulfill the deficiency of another as  all the above has its different benefits and shortfalls in the job order costing

and the benefit is it is that for calculating the cost for a particular task or job job order costing is applied and for calculating cost on particular process process costing applied and on calculating the cost of particular activity activity based costing applied and shortfall of all these three are that no one can replace on the another one.

According to me and job order costing best suited for the best suit bird that is Company

in the manufacturing process the processes adopted by the best suit word are the same and activity are the similar and no such bifurcation can be done for the classification of cost method but job order costing can be used as there is the three different jobs at the thickness of the source are very amount themselves job order costing is the best suited one