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Microlesson · 5-min read

Job Costing — Meaning, Characteristics and Process

# Job Costing

## Definition

A method of specific order costing where each job is treated as a distinct cost unit. Costs are ascertained separately for each job and a separate Job Cost Sheet is maintained throughout production.

Examples: Visiting card printing, custom furniture, bridge construction, repair work.

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## When Is Job Costing Used?

When production is:

  • Non-repetitive (each order is different)
  • Made to customer specification
  • Jobs can be identified separately throughout the production process

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## Process of Job Costing — Step by Step

StepActionDocument Used
1Prepare a separate cost sheet for each jobJob Cost Sheet
2Charge material cost as materials are issuedBill of Materials (BOM) + Material Requisition
3Charge labour cost as workers record timeTime Card / Job Card
4Charge overheads using a predetermined absorption rateOverhead Absorption Rate

Total job cost is known on completion of the job.

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## Key Characteristics

  • Production is heterogeneous — no two jobs are alike
  • Cost identity is maintained per job number throughout
  • Profitability can be measured at the individual job level
  • Cost sheet moves with the job from department to department

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## Job Costing vs Batch Costing

FeatureJob CostingBatch Costing
Cost unitIndividual jobBatch of identical units
Production typeNon-repetitive, customRepetitive, standardized
Cost sheet perEach unique jobEach batch
ExampleVisiting card printingReadymade garments

Worked example

### Example 1

A printing press receives three orders:

  • Job 101: 500 visiting cards for Client A
  • Job 102: 1,000 letterheads for Client B
  • Job 103: 200 wedding invitations for Client C

Each job gets its own cost sheet. Material is issued via separate requisitions per BOM. Workers fill individual time cards per job. Overheads (₹5 per DLH) are absorbed based on recorded hours. At completion:

  • Job 101 cost = Material ₹300 + Labour ₹200 + OH ₹100 = ₹600
  • Profitability assessed per job by comparing with job price.

⚠️ Common exam mistakes

  • Averaging costs across all jobs (process costing logic) — in job costing each job must carry its own specific costs
  • Omitting overhead absorption and reporting only prime cost as total job cost
  • Selecting an inappropriate overhead absorption base — labour-intensive jobs suit direct labour hours; machine-intensive jobs suit machine hours
  • Confusing the Job Cost Sheet with a process cost statement — job costing tracks a moving job, not a time-period production run
Reference:
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