Whether a company uses process costing or job-order costing depends on its industry. A number of companies in different industries are listed below: 1. Flour mill2. Dairy farm3. Electric utility4. Custom boat builder5. Management consulting firm6. Aluminum refiner that makes aluminum ingots from bauxite ore Required:For each company, indicate whether the company is most likely to use job-order costing or process costing.
What will be an ideal response?
1. Flour mill; Process Costing
2. Dairy farm; Process Costing
3. Electric utility; Process Costing
4. Custom boat builder; Job-Order Costing
5. Management consulting firm; Job-Order Costing
6. Aluminum refiner that makes aluminum ingots from bauxite ore; Process Costing
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