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What is an absorption costing?
An absorption costing is an accounting method used to calculate the total cost of a product by factoring in both direct and indirect costs.
What does the term 'process costing' refer to?
The term "process costing" refers to the accounting method that takes into accounts all costs, either direct or indirect, during the manufacturing process of a product.
Direct costing as a technique of costing?
direct costing is a technique in which costs are classified as direct cost or indirect cost.
Is direct costing the same as variable costing?
Variable costing is called marginal costing while direct costing is separate concept.
What is difference between Direct Cost and Direct Costing?
Direct cost is cost of product while direct costing is the process which study or accounts the direct cost allocation to products.
What is an absorption costing?
An absorption costing is an accounting method used to calculate the total cost of a product by factoring in both direct and indirect costs.
What are the stages of accounting for costs?
direct costs,indirect costs,sunk costs, Activity based costing.
Direct costing as a technique of costing?
direct costing is a technique in which costs are classified as direct cost or indirect cost.
What does the term 'process costing' refer to?
The term "process costing" refers to the accounting method that takes into accounts all costs, either direct or indirect, during the manufacturing process of a product.
Is direct costing the same as variable costing?
Variable costing is called marginal costing while direct costing is separate concept.
Is the marginal costing called direct costing?
Yes marginal costing is also sometimes called direct costing.
What is another name for variable costing?
'''Direct Costing'''
What is difference between Direct Cost and Direct Costing?
Direct cost is cost of product while direct costing is the process which study or accounts the direct cost allocation to products.
Difference between direct cost and direct costing?
Direct cost is that cost which is directly identifiable with production volume while direct costing is the method or process through which direct cost is allocated to production.
Difference between marginal cost accounting statements and absorption cost accounting statement?
marginal costing considers only direct) materials,labour,expenses and variable factory overheads excluding fixed factory overheads but absorption considers (direct) materials ,labour,expenses,variable and fixed factory overheads.
What are the differences between direct cost and indirect cost in management accounting?
Direct costs are the ones that can be traced back to specific objects or items. Indirect costs cannot be traced accurately to anything specific.
What is the difference between absorption costing and direct costing?
Under absorption costing overheads are allocated to production based on predetermined overhead rates like machine hours, or direct labor hours etc while in direct costing overheads are allocated based on activity performed and relationship with production units.
