Lux Electronic, Inc
Joan Keyes
Plant Controller
Dear Joan,
Process costing is the most appropriate type of cost accounting system for the commodity products. First, the made-for ready (Commodity) boards are being produced in large volumes and they are also similar in design. Secondly, production is continuous to ensure that adequate inventories of the finished products are on hand. The commodity products are similar and they require nearly identical materials, labor, and time of production. Process costing accumulates products related to cost for a period of time. In this situation, it is expected that a typical batch of commodity will take over a week to manufacture and as a result, tens of thousands boards will be produced.
Job-order cost system on the other hand, is more appropriate for differentiated products. In made-to-order (Differentiated) boards, the costs are assigned to each or each batch of goods. Each model is custom designed, and the different models require modifications to the......
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