Answer: The following are the similarities between job order and process costing:
Explanation:
Job order costing and process costing have significant similarities:
Both job and process cost frameworks have a similar objective: to decide the expense of items.
Both job and process cost frameworks have a similar cost streams. Bookkeepers record production in separate records for materials stock, work, and overhead. At that point, they move the expenses to a Work in Process Inventory account.
Both job and process cost frameworks used predetermined overhead rates to apply overhead.
