Specific order costing, Cost Accounting

Assignment Help:

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


Related Discussions:- Specific order costing

Variable costs, Variable Costs Are costs such raise or fall proportio...

Variable Costs Are costs such raise or fall proportionately along with the level of activity that is such portion of the cost of an activity which changes along with the leve

Cost and budget, #questionFrame-it Ltd is a manufacturer of metal picture f...

#questionFrame-it Ltd is a manufacturer of metal picture frames. The firm''s two product lines are designate S (small frames: 12 x18 cm) and L (large frames: 20 x 25 cm). The prima

Features of effective cost center framework, Features of Effective Cost Cen...

Features of Effective Cost Center Framework During the establishing cost centers, an organization must consider the given points as: a) Clear definition about the cost cent

absorption costing principles, Determine the  factors  that distinguish pr...

Determine the  factors  that distinguish profit  calculated according  to  (a) marginal  costing and  (b) absorption costing principles.

Sunk costs, Which statement best describes a sunk cost? A a cost which is i...

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

Storing and issuing materials, what is the equivalent unit for materials? i...

what is the equivalent unit for materials? if the cost of normal lots units are absorbed by the units transferred out to the next department the work in process- beginning (60% com

LIFO, I need an example for Lilo,Fifo, and weighted average method for a ye...

I need an example for Lilo,Fifo, and weighted average method for a year. Jan.begining inventory, purchases in Feb., April, July, October, and November. Can you help me with this?

What does the cost principle, What does the cost principle mean for a compa...

What does the cost principle mean for a company's income statement?

Decision making, Decision Making Nature of Decision-making Deci...

Decision Making Nature of Decision-making Decision-making may fall into any type of the following categories as: 1. Short run operational decisions 2. Short run t

Explain the respective roles of the securities, Explain the respective role...

Explain the respective roles of the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS) in the setting of accounting standards?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd