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A costing system that traces direct costs to a cost object by using the actual direct-cost rates times the actual quantities of the direct-cost inputs and that allocates indirect costs based on the budgeted indirect-cost rates times the actual quantities of the cost-allocation bases.
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∙ 11y ago
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How does an actual costing system different from a normal costing system?
actual is the actual cost, normal is estimating
Why do you need product costing system?
needs of product costing system
What is another name for absorption costing?
Full costing system
What is a responsibility costing system?
responsibility costing is a costing which enable us to know which department is responsible for what
When job order costing system would be more appropriate than process costing system?
A job order costing system would be more appropriate than a process costing system for manufacturers who use different types of goods throughout the manufacturing process. Process costing is best to you when manufacturing a large amount of the same items.
How does an actual costing system different from a normal costing system?
actual is the actual cost, normal is estimating
Why do you need product costing system?
needs of product costing system
What is another name for absorption costing?
Full costing system
If you were a candy manufacturer which costing system should you use full absorption costing or variable costing?
full absorption costing
What is a responsibility costing system?
responsibility costing is a costing which enable us to know which department is responsible for what
What are the main features of standard costing system?
features of standard costing
When is a job order costing system more appropriate than a process costing system?
Job order costing is more appropriate than process costing when the product being produced is a custom product
When job order costing system would be more appropriate than process costing system?
A job order costing system would be more appropriate than a process costing system for manufacturers who use different types of goods throughout the manufacturing process. Process costing is best to you when manufacturing a large amount of the same items.
Which is the best costing system for Automobile Industry?
process costin and target costing
What are the benefit's and limitations of job order costing and process costing system?
to undersrand
What are the differences between activity-based absorption costing system and traditional absorption costing system?
An activity-based absorption costing system defines the cost by how many activities a product unit uses. A traditional absorption costing system defines the cost by how much money went into making the product unit.
Why does over costing and under costing occur with traditional costing system?
Over costing and under costing occurs because overhead cost is applied first using some ratio to find out the cost of product before the process of production done and actual cost found.
