What is job costing and how to determine the essence of project, it's profitability and what are the legal conditions undertaken before MOU?

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Job costing is the process of determining the cost of a specific job or project to determine its profitability.

Job costing involves tracking all expenses related to a specific job or project, including labor, materials, and overhead costs.
To determine the profitability of a project, the total cost of the project is compared to the revenue generated by the project.
Legal conditions undertaken before MOU may include signing a non-disclosure agreement, outlining the scope of work, and agreeing on payment terms.
Examples of industries that use job costing include construction, manufacturing, and consulting services.