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I need a report on Specific Cost. Can you please assist me for Specific Cost report for about 2500 words?
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For any company that is quoted on the London Stock Market, you are required to write a report to existing shareholders on any TWO of the following issues. Each answer carries equal
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Specific Cost Method Definition: Within this method specific cost of materials issued is charged to production. While materials are purchased for a particular job, they should be charged to that specific job at their actual cost. This method is appropriate for job order industries which perform individual jobs or contracts against particular orders. This type of method is impracticable to use if purchases and issues are numerous and the materials issued cannot be identified.
Specific Cost Method Definition:
Within this method specific cost of materials issued is charged to production. While materials are purchased for a particular job, they should be charged to that specific job at their actual cost. This method is appropriate for job order industries which perform individual jobs or contracts against particular orders. This type of method is impracticable to use if purchases and issues are numerous and the materials issued cannot be identified.
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