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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
Make-or buy and relevant costs - The assembly division of Davenport, Inc., is bidding on an order of 50,000 smart phones. The division is eager to get this order because it has a s
Classic Coolers manufactures portable coolers adorned with college logos. During the first quarter of the year, the company had the following costs: Direct materials used $55,500 D
Alternative to Total Overhead Variances There is an easier approach to overhead variances. In this approach, the overheads are NOT sub-divided into their fixed and variable e
meaning and definition of operating costing
short note
entries to be entered into a ledger account for the month of July 2009 & prepare an incoem statement. balances at 1/7/2009 Materials control $6150 Labour control (accrued wages)
Labour Variances From our basic data, we can calculate the labour variances as given as: i. Labour Rate Variance = (AH x AR) - (AH x SR)
Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a
Which of the four types of costs would include a CEO's salary? A. Unit-Level B. Batch-Level C. Product Sustaining D. Facility Sustaining
Beginning inventory on March 1 consisted of 2,000 units each costing $11.20 . During March, the following was purchased for inventory: Date Purchase
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