Definition of Job Costing
“Job Costing is that specific form of specific order costing which applies where work
is undertaken according to customers’ specifications.”
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CIMA – London
Job order costing is called – job costing, specific order costing, production order
costing, job lot costing or lot costing.
There is no averaging of costs under job costing, except for the units in a particular
job. A job may extend to more than one accounting period and job costing is not
accounting period specific, rather it is job specific.
