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Power House Costing is concerned with the ascertainment of cost per unit of steam or electricity produced. The costs of…

Contract Costing is otherwise called as terminal costing. It is one of the methods of Job Costing. Contract costing is…

(a) If a contract has not advanced to a sufficiently high stage, no credit for profit should be taken. Generally,…

Job Costing This is the ascertaining of costs that are incurred in the undertaking of a specific job. Often used…

A costing technique which is used to calculate the cost of each process is known as Process Costing. Here process…

Job costing involves the detailed accumulation of production costs attributable to specific units or groups of units. For example, the…

The market value method (also known as reversal cost method) of costing by-products is identical to the recognition of gross…

Batch costing is that form of specific order costing under which each batch is treated as a cost unit and…

Need for Determining: Every time a component/product is to be made, setting up of the tool is involved. Because of…

Job costing is accounting which tracks the costs and revenues by “job” and enables standardized reporting of profitability by job.…