Business FinancesQuestion 310 of 1605
Job costing is BEST described as a system that:
a.Tracks and assigns costs to each individual project
b.Spreads all costs equally across every project in a year
c.Records only the company's overhead expenses
d.Replaces the need for an income statement
Explanation
Job costing accumulates labor, materials, subcontractor, and other costs by individual project, letting the contractor compare actual costs to the estimate and judge each job's profitability.
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Reviewed by Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verify)