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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
LEV;LRV
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#question.discuss the importance of cost classification to a business organisation?
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Uniform Costing It is a general system utilizing agreed concepts, standard and principles accounting practices adopted via different entities in the similar industry to ensure
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