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What is Cost unit
While the cost centres assists in ascertaining costs by location, person, equipment, operation or process, cost unit is a unit of product, service or a combination of them in relation to which costs are ascertained or expressed.
A cost unit is defined as by the CIMA, London as a "unit of product or service in relation to which the costs are ascertained". The selection of suitable cost unit depends upon several factors such as, nature of business, process of information, requirements of costing system, etc but are usually relates to the natural unit of the product or service. For example, in steel, the cost unit is Tonne while in transportation services the unit may be passenger Kilometre or Tonne Km. Etc. it may be noted that while the former is a single cost unit, the latter is a composite unit a combination of the tow units.
Absorption cost Absorption, or full cost systems, transfer the full cost of the supplying department to the receiving department. Where a profit is to be allowed to the supplyi
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Calculation
The std cost of chemical mixture~PQ is as follows: 40% of material P @rs.400/kg 60% of material Q @rs.600/kg A std loss of 10% is normally anticipated in pdn. The followinng parti
Objectives of ratio analysis 1) Measuring the profitability: we can measure the profitability of the business by calculation gross profit net profit expenses ratio and other.
Why is corn so frequently used in typical American foods? In what forms does it take when being part of those foods? How does that relate to the modern epidemic on obesity?
State overhead expenses It is to be noted that the term overheard has a wider meaning than the term indirect expanses. Overheads include the cost of the indirect material and
What is period cost Period costs are those costs which are reported as expanses of the period in question. These are cost which are not assigned to the product but are charged
Analysis of Each Decision Package This analytic procedure permits the manager of the decision package and its alternatives to assess and validate its operation. Numerous quest
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