Cost Accumulation System
M2A1 Assignment 1: Discussion—Cost Accumulation System
When companies accumulate costs, they generally use either a job order or a process costing system. The type of system used often varies based on the type of product or service provided. Examine your experiences with a current or former employer and a product or service provided by this employer.
Respond to the following:
Identify and describe the type of cost accumulation system that was used.
Explain how the system was used and, specifically, how overhead was allocated.
Support your responses with reasons and examples.
Write your initial response in 3–4 paragraphs. Apply APA standards to citation of sources.
By Saturday, September 15
……………………..Answer preview………………………
The type of the cost accumulation employed by my previous employer was process costing. Process costing is a method of allotting manufacturing costs to products to conclude an average unit cost. Manufacturing companies that deal in mass production of identical products employ the technique. This is simply due to each unit is critically the same in the manufacturing process. This results to each unit to receive the same manufacturing input………………………….
APA
298 words