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Chapter 2 Discussion 1

Chapter 2 Discussion 1

Q The goal of this discussion is for students to demonstrate an understanding of how these methods differ in application, and to identify specific scenarios in which each method would be most effective at providing accurate and necessary costing data. Keep in mind that this discussion question will help prepare you for future exams, so it is important that you understand the information and actively participate in discussions. To supplement your learning and enhance your understanding, you may also have to conduct research outside of course provided material. Discussion Question Requirements: 1. Your discussion question response must include a minimum of three paragraphs in length and is due no later than Thursday by 11:59 pm EST. o If the Thursday by 11:59 pm EST is missed, you will still be required to provide the initial post to participate in peer discussion and earn partial credit for the assignment. 2. Pick one peer’s post and review it. Then comment in no less than one paragraph why you found the information helpful, informative, etc. no later than Sunday by 11:59 pm EST. You must present new ideas and/or thoughts, merely stating that you agree/disagree is not enough to earn full points. 3. Students will not be able to see peers' postings before posting their initial post. Once you make your initial post, you are not permitted to edit. If edits are needed, you will need to reply to the original post and make the corrections there. 4. A paragraph is considered a minimum of 4-6 sentences. 5. Cite all sources - you must provide the exact link to the reference. Please keep in mind that citing sources does not mean you can copy and paste information from the source and use it as your own. You also cannot only change a few words from a source; all work must be in your own words. If copying/pasting is found or the submission is not in your own words, you will receive a zero, no exceptions. This also includes commenting on peers' posts. 6. Use tables, if needed to make your posts directly into the discussion area. Do not post as an attachment. Provide a description of how the job order costing and process costing methods are applied to determine accurate cost data. Provide an example of a scenario in which each would be the more ideal method for application in providing accurate costing data.

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The main difference between the job order costing and process costing methods are how the products are produced. The job costing is more effective for companies that produce products in batches because its easier to trace materials and costs to the products. Smaller product runs and wider variotions on products are easier to trace with this method. While the process costing methods is more effective with continuous mass production of a single product because all the costs are going to be accumulated at the department level (Bragg, 2022).