Job Costing:
Job costing is a costing method used to calculate the cost of a specific job or project. It is suitable for industries that produce unique or custom-made products or services. For example, a construction company uses job costing to determine the cost of building a house for a specific client.

Contract Costing:
Contract costing is similar to job costing but is used for long-term projects with defined milestones. It is commonly used in construction, engineering, and manufacturing industries. For instance, a company building a bridge would use contract costing to track costs throughout the project.

Batch Costing:
Batch costing is used when products are manufactured in batches or groups. The costs are allocated to each batch, making it easier to track costs and profitability. An example of batch costing is a bakery producing a batch of 100 loaves of bread.

Process Costing:
Process costing is used in industries where products go through multiple stages of production. Costs are allocated to each stage, making it easier to track the cost of production. An example of process costing is a chemical manufacturing plant producing different types of chemicals.

Unit Costing:
Unit costing is used to calculate the cost per unit of a product or service. It is suitable for industries that produce standardized products in large quantities. For example, a car manufacturer uses unit costing to determine the cost of producing each car.

Service Costing:
Service costing is used to calculate the cost of providing services. It is commonly used in industries such as healthcare, consulting, and hospitality. For example, a hospital uses service costing to determine the cost of providing medical services to patients.

Farm Costing:
Farm costing is used in agriculture to calculate the cost of producing crops or raising livestock. It helps farmers determine the profitability of their operations. For instance, a dairy farm uses farm costing to track the cost of producing milk.

Multiple Operation Costing:
Multiple operation costing is used when a product goes through several operations or processes before completion. Costs are allocated to each operation, making it easier to identify cost drivers. An example of multiple operation costing is a furniture manufacturer producing custom-made furniture.

Multiple Costing:
Multiple costing involves using more than one costing method to calculate costs. It is useful when different costing methods are needed for different aspects of a business. For example, a manufacturing company may use job costing for custom orders and process costing for standardized products.