State any three objectives of Job costing.

1.	State any three objectives of Job costing.
Answer» Objectives of job costing are as follows: 1) It ascertains the cost of each job separately and also indicates the profit or loss made out on its completion. 2) It also helps in decision making regarding continuation or discontinuance of job. 3) It assists the management in controlling the cost of each job by comparing the actual cost with the estimated cost. 4) It provides a basis for determining the cost of similar jobs to be undertaken in future and quoting the appropriate price for the same.

Answer»

Objectives of job costing are as follows:

1) It ascertains the cost of each job separately and also indicates the profit or loss made out on its completion.

2) It also helps in decision making regarding continuation or discontinuance of job.

3) It assists the management in controlling the cost of each job by comparing the actual cost with the estimated cost.

4) It provides a basis for determining the cost of similar jobs to be undertaken in future and quoting the appropriate price for the same.

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