Batch costing, Cost Accounting

Assignment Help:

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.

Related Discussions:- Batch costing

Flexible budget, Flexible Budget Flexible budget is a budget that is d...

Flexible Budget Flexible budget is a budget that is designed to change in accordance along with the level of activity attained. It includes budgeting at various levels in anti

Preparation of cash flow statement, To begin with, we require two successiv...

To begin with, we require two successive balance sheets and the operating statement or loss and profit account relating the two balance sheets. There are two ways wherein this s

Debt-equity ratio, Allie forms Broadbill Corporation by transferring land (...

Allie forms Broadbill Corporation by transferring land (basis of $125,000, fair market value of $775,000), which is subject to a mortgage of $375,000. One month prior to incorporat

Advantages and disadvantages of designing an ic, Discuss the advantages and...

Discuss the advantages and disadvantages of designing an IC using VHDL and synthesis compared with the traditional design approach using schematic capture, simulation and layout.

Calculate total revenue-marginal revenue-marginal cost, In the beach city o...

In the beach city of Santa Barbara, California, there are seven bathing suit stores, each with the same schedule of costs and each facing an identical demand curve. Swim N Style is

Stock control and its level, Stock control and its Level Management m...

Stock control and its Level Management must formulate decisions regarding to the control of stock levels along with a view to minimizing the cost of the company whereas achie

Cost drivers and predictors, why is determining the cost to manufacture a p...

why is determining the cost to manufacture a product quite a different activity from determining how to control such cost?

Prepare the capital accounts, Shirley and Ken are in partnership, trading i...

Shirley and Ken are in partnership, trading in the construction industry. The year end for the partnership business is 30 June. You are the Assistant Accountant and have been as

What are variable costs, Variable costs are the cost that are directly prop...

Variable costs are the cost that are directly proportionate with the quantity of manufacture and or directly associated with the service.

What profit is earned by each firm, Three oligopolists, A, B and C, produce...

Three oligopolists, A, B and C, produce an identical product, Q. Q is produced under conditions of constant costs, that is, AC = MC = $100. The market demand schedule for Q is:

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