- 20 Marks
IMAC – MAR 2024 – L1 – Q3 – Job Costing
Explain decision-making levels within an organization, sources of management accounting information, and factors for an effective job costing system.
Question
a) Management accounting is the provision of financial and non-financial decision-making information to managers.
Required:
i) Explain the decision-making levels within an organization and state an example each of the kind of decision taken at the various levels. (9 marks)
ii) Explain TWO (2) sources of management accounting information and state an example each of the information to be obtained. (6 marks)
b) One form of specific order costing methods that seeks to attribute costs to jobs is known as job costing.
Required:
Enumerate THREE (3) factors that are necessary to ensure an effective and workable job costing system. (5 marks)
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