Batch costing, Cost Accounting

Batch Costing

This is a kind of job costing that is utilized when production consists of limited repetitive work and definite number of item manufactured in one batch.  A batch is explained as a cost unit consisting of a group of identical item in specific sizes and colors of shoes, spare toys, parts. The net cost incurred in production is spread on the number of units made while the batch is finished.

Procedures:

  1. Allocation of batch number
  2. Production order is made
  3. Creation of batch costs account
  4. Completion of the work and closure of the batch cost account
  5. Allocation of costs to individual units in the batch
  6. Determination of selling price/batch and unit.
Posted Date: 2/7/2013 2:19:16 AM | Location : United States







Related Discussions:- Batch costing, Assignment Help, Ask Question on Batch costing, Get Answer, Expert's Help, Batch costing Discussions

Write discussion on Batch costing
Your posts are moderated
Related Questions
explain various type of cost ccounting

what is the meaning of classification of cost in relation to variability?

Which statement best describes a sunk cost? A a cost which is irrelevant for the future B a cost which must be matched against the revenue C a cost which remains the same at all le

An analysis of the fluctuations of current assets and current liabilities that is working capital describes that how the working capital has decreased or increased. We want to iden

what is accounting treatment for material losses due to abnormal reasons

#what is the formula for calculating payback period and what are its limitations ?

Comparison between Absorption and Marginal Costing Marginal Costing like a cost accounting system is considerably different from absorption costing. It is an optionally metho

Explain the following types of costs. a. Fixed and variable costs b. Explicit and implicit costs c. Direct and indirect costs d. Past and future costs e.

Atkinson's Reliable Tools makes two products that use similar raw materials: #587Q and #253X. Estimated production needs for a unit of each product follows. #587Q #253X Steel (in p

Find a journal article online about just-in-time inventory systems. In the subject line of your post, include the title of the article that you read. Post a link to that article wi