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Specific Order Costing
This is a broad costing system that is applicable where work jobs consist of separate jobs, batches or contracts. Every job or contract or batch is a cost unit and in most cases, it is different from another. Every order made can be recognized separately and the system is designed to find the cost of each order. Exact order costing is subdivided into as:
1. Batch costing
2. Job costing
3. Contract costing
Weighted Average Method This way is a perpetual weighted average system whereas the issue price is recalculated after one of receipt of stocks taking into accounts both money
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Overhead Costs Introduction Overhead costs may be defined like the net cost of indirect materials, indirect expenses and indirect labour. They may happen or be charged to
selection of activity base/level
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