[Solution]Job Costing Vs. Process Costing

ACC 311 Module Two Short Paper Guidelines and Rubric Overview: Different costing methods provide companies with different options for categorizing and calculating costs. Managers and…

ACC 311 Module Two Short Paper Guidelines and Rubric
Overview: Different costing methods provide companies with different options for categorizing and calculating costs. Managers and cost accountants should understand the differences between costing methods so that they can choose and properly implement the method that best suits their needs for decision making. For this short paper, you will compare the characteristics of job costing and process costing methods and give examples of when and why each might be used. You will also address the use and benefits of costing for service businesses.
Prompt: Review Chapter 4 in the textbook and the Job Order Costing vs. Process Costing video to support your work on this short paper. Specifically, the following critical elements must be addressed:
 Job Costing vs. Process Costing: Characteristics: Compare the characteristics of job costing and process costing. Consider how each method impacts the accounting work involved.
 Job Costing vs. Process Costing: Example: Select a company of your choice and explain when they might 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.
Rubric
Guidelines for Submission: The short paper should be 2–3 pages, double spaced, with 12-point Times New Roman font, one-inch margins, and citations in APA format.
Critical Elements Exemplary (100%) Proficient (90%) Needs Improvement (70%) Not Evident (0%) Value
Job Costing vs. Process Costing: Characteristics
Meets “Proficient” criteria and displays keen insight into the differences of the work involved
Compares the characteristics of job costing and process costing
Compares the characteristics of job costing and process costing, but the comparison is inaccurate, unclear, or missing key elements
Does not compare the characteristics of job costing and process costing
22.5
Job Costing vs. Process Costing:
Example
Meets “Proficient” criteria and provides highly detailed examples of when a company might use job costing and process costing
Provides an example of when a company might use job costing and when they might use process costing
Provides an example of when a company might use job costing and when they might use process costing, but the example is inappropriate or illustrates only one type of costing, or the explanation of when each is used is inaccurate, unclear, or incomplete
Does not provide an example of when a company might use job costing and process costing
22.5
 

 
 
 
 
 
 
 
 
 
Critical Elements Exemplary (100%) Proficient (90%) Needs Improvement (70%) Not Evident (0%) Value
Service Industry Costing:
Differences
Meets “Proficient” criteria and explains the practical impact of these differences on the cost accounting process
Explains why the service industry may use different costing methods than the manufacturing and merchandising industries
Explains why the service industry may use different costing methods than the manufacturing and merchandising industries, but the explanation is inaccurate, unclear, or incomplete
Does not explain why the service industry may use different costing methods than the manufacturing and merchandising industries
22.5
Service Industry Costing: Benefits
Meets “Proficient” criteria and demonstrates a keen understanding of the day-to-day impact on business operations
Provides an example of a company in the service industry that uses costing and explains the benefits of costing for service companies
Provides an example of a company in the service industry that uses costing and explains the benefits of costing for service companies, but the example is inappropriate, or the explanation of the benefits is inaccurate, unclear, or incomplete
Does not provide an example of a company in the service industry that uses costing, or does not explain the benefits of costing for service companies
22.5
Articulation of Response
Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format
Submission has no major errors related to citations, grammar, spelling, syntax, or organization
Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas
Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas

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