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It is important to have your costs and costing methods in order. This will ensure that your money is being well spent.

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Contrast between target and kaizen costing?

they diffrent methods


Inventory costing method?

There are different inventory costing methods an accountant can use for cost o goods sold accounting. The methods include last in, first out, average cost method, first in, first out, and specific identification method.


What are research techniques?

Research techniques are systematic methods used to gather, analyze, and interpret information to answer specific questions or test hypotheses. They include qualitative methods like interviews and focus groups, as well as quantitative methods such as surveys and experiments. Other techniques may involve literature reviews, case studies, and observational studies, each chosen based on the research objectives. Effective research often combines multiple techniques to enhance the validity and depth of findings.


What are the differences between FIFO, LIFO, and HIFO inventory costing methods and how do they impact a company's financial statements?

The main differences between FIFO, LIFO, and HIFO inventory costing methods lie in how they value inventory. FIFO (First-In-First-Out) assumes that the oldest inventory is sold first, LIFO (Last-In-First-Out) assumes that the newest inventory is sold first, and HIFO (Highest-In-First-Out) values inventory based on the highest cost items first. These methods can impact a company's financial statements by affecting the reported cost of goods sold, net income, and taxes paid.


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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


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There are two methods of preparing Income Statement. They are:- 1. Absorption costing method. 2. variable Costing method.


What are different costing methods?

Different costing methods include job costing, process costing, activity-based costing (ABC), and standard costing. Job costing assigns costs to specific batches or projects, making it ideal for customized products. Process costing averages costs over continuous, homogeneous processes, suitable for mass production. Activity-based costing allocates overhead based on actual activities, providing more accurate cost insights, while standard costing involves setting budgeted costs for products to streamline variance analysis.


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Inventory costing methods place primary emphasis on assumptions about?

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Contrast between target and kaizen costing?

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