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Determine the cost according to normality
According to normality: under this category cost may be categorized as follows:
Normal cost: it is the cost which is normally incurred at a given level of the output in the condition in which that level of the output is attained. It is charged to costing profit and loss account.
Abnormal cost: it is the cost which is not normally incurred at a given level of the output in the condition in which that level of the output is attained. It is charged to costing profit and loss account.
identify and explain the many classification of costs for planning, control.performance evaluation and decision making.
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Determine the cost according to normality According to normality: under this category cost may be categorized as follows: Normal cost: it is the cost which is normally i
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