2 Managerial Accounting Basics – 2 Job Order Costing, Process Costing, Job Cost Sheet
2 of 10 Managerial Accounting Video Lectures by Professor Bassell are on this channel. Job Order Costing and Process Costing: A discussion of managerial accounting concepts by Professor Myles Bassell. Professor Bassell discusses in detail the difference between process costing and job order costing using examples such as custom wedding dresses and house painting. Professor Bassell begins by reviewing cost classifications and cost behavior. He explains manufacturing costs and non-manufacturing costs. Professor Bassell mentions the difference between financial and managerial accounting and product costs and period costs. He discusses the 3 components of product costs: direct materials, direct labor, and manufacturing overhead. He discusses direct, indirect, fixed, and variable costs.
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