Costing Methods

19/11/2020 2 By indiafreenotes

Unit 1 Job and Batch Costing {Book}

Job Costing: Meaning, prerequisites, Job costing procedures, Features, objectives, applications, advantages and disadvantages of Job costing VIEW
Batch Costing Meaning, Advantages, Disadvantages VIEW
Determination of economic Batch Quantity VIEW
Comparison between Job and Batch Costing VIEW


Unit 2 Process costing {Book}
Introduction, meaning and definition, Features of Process Costing VIEW
Comparison between Job costing and Process Costing VIEW
Applications, Advantages and Disadvantages of Process Costing VIEW
Treatment of normal loss, Abnormal loss and Abnormal gain VIEW
Rejects and Rectification – Joint and by-products costing problems under reverse cost method VIEW


Unit 3 Contract Costing {Book}
Meaning, Features, Applications of Contract costing VIEW
Similarities and Dissimilarities between Job and Contract costing VIEW
Procedure of Contract costing VIEW
Profit on incomplete contracts VIEW


Unit 4 Operating Costing {Book}
Introduction, Meaning and application of Operating Costing VIEW
Power house costing or Boiler house costing VIEW
Canteen or Hotel costing VIEW
Hospital costing and Transport Costing, Problems VIEW


Unit 5 Output Costing {Book}
One Operation (Unit or Output) Costing VIEW
Collection of Costs VIEW
Tenders or Quotations VIEW
Treatment of Scrap VIEW
Production Account VIEW
Difference between a Production Account and a Cost Sheet VIEW