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Job costing is a method of cost accounting used to determine the total cost of a specific job or project. This process involves tracking all expenses related to a particular job, including labor, materials, overhead, and any other costs incurred. By accurately calculating the costs associated with each job, businesses can better understand their profitability and make informed decisions about pricing, resource allocation, and future projects. Job costing is commonly used in industries such as construction, manufacturing, and professional services to ensure accurate cost management and financial reporting.