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I need a report on Specific Cost. Can you please assist me for Specific Cost report for about 2500 words?
Question: A deferred annuity policy is sold to a life aged 45 with the following benefits: • Basic payments start at $30,000 from age 65, increasing by $2,000 each year; •
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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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