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It is when a company set out how much they will put aside for contractors when working out expenses for a job.
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∙ 16y ago
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What is difference between job costing contract costing?
job costing refers to very small work while contract costing refers to large work like building a bridge.
In contract costing profit can be recognised only when the contract is completed?
In contract costing, the profit is only guaranteed when the actual contract is completed because the prices keep changing. There is usually a slight variation between projected profit and the actual figures.
What is an example of contract costing?
construction of bridges, buildings etc
Differences between costing method and costing techniques?
Methods of Costing The cost of products or services is determined using several methods. The use of a given method is dictated by such factors as: the nature of cost units, the production process, the mode of cost accumulation, the duration of work etc. The following are the well established methods of costing a. Job / Batch costing b. Contract costing c. Process costing d. Service costing Techniques of Costing Irrespective of the type of costing method being applied there are various approaches that could be adopted. These are:  Full Absorption costing  Marginal costing  standard costing using  absorption costing  marginal costing
Define process costing its types features applications?
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
Does tmobile have the iPhone 5?
Yes. Because T-Mobile is a contract free carrier though, they will be expensive with the cheapest iPhone 5 costing $649.
Is direct costing the same as variable costing?
Variable costing is called marginal costing while direct costing is separate concept.
Is a hospital a job costing or process costing?
a job costing
What is the and purpose of Job Costing Process Costing?
outline the characteristics and purpose of: Job costing and process costing
What is the job costing and give you the example?
Labour costing. Material costing
Is the marginal costing called direct costing?
Yes marginal costing is also sometimes called direct costing.
If you were a candy manufacturer which costing system should you use full absorption costing or variable costing?
full absorption costing
