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Job Costing

Most industries may be broadly classified into two major heads.

(i)                 Job order industries

(ii)               Mass production industries

Normally job order industries engage in production based upon the customers’ orders.

Each and every job has its own features and requires a special attention.

The ICMA terminology defines job costing as “that form of specific order costing which applies where the work is undertaken to customers’ requirements and each order is of comparatively short duration. The work is usually carried out within a factory or workshop and moves through processes or operations as a continuously identifiable unit”.