Job Costing and Process Costing, accounting assignment help

1. Please please write three complete and well-composed paragraphs (in your own words) in which you use, as an example:

Alaska Launch, a private-sector aerospace company, provided the following aggregated data for satellite construction jobs during a recent period:

Direct materials

$13,442,769

Direct labor

21,889,554

Applied (and actual) factory overhead

8,223,454

Beginning work in process

14,550,098

Ending work in process

17,559,000

Satellites are usually constructed to specific customer specifications, and the contract selling price is 125% of cost.

Assuming that the above costs are attributable to several different satellites in various stages of production, how would the cost of direct materials, direct labor, and overhead be tracked to specific jobs? How important is the job costing system in establishing a fair selling price for each satellite?


2.

Please write three complete and well-composed paragraphs (in your own words) in which you use, as an example, a company that operates in East Cost of United States. The company you select as an example must be a company that manufactures a product, not a service or merchandising company. Describe what product it makes and whether you think it uses the job-order or process costing method. You don’t have to actually know for certain, but write what you think they use, and explain why you think they use that type of costing method.


 
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