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(i) Job costing method: The cost of a particular service is obtained by assigning costs to a distinct identifiable service. e.g. Job Costing method is used in service sectors – like Accounting Firm, Advertisement campaign.
(ii) Process Costing method: Cost of a service is obtained by assigning costs to masses of similar unit and then computing cost / unit on an average basis. e.g. Retail banking, postal delivery, credit card etc.
(iii) Hybrid method: Combination of both (i) & (ii) above.
