'''Direct Costing'''
Variable costing is called marginal costing while direct costing is separate concept.
It May Be Called as "Marginal Cost"
It May Be Called as "Marginal Cost"
Full costing system
variable costing
Another name for responding variable is dependent variable.
Another name for responding variable is dependent variable.
Another name for responding variable is dependent variable.
full absorption costing
VARIABLE COSTING VERSUS ABSORPTION COSTINGAbsorption costing applies all manufacturing overhead to production costs while they flow through Work-in-Process Inventory, Finished-Goods Inventory and expenses on the income statement while Variable Costing only applies variable manufacturing overhead.Fixed manufacturing overhead is expensed immediately as it is incurred under variable costing while it is inventoried until the accounting period during which the manufactured goods are sold under absorption costing.
Another name for a dependent variable is also known as a responding variable
marginal costing is also known as contribution costing. its a costing method that's includes only a variable cost of a product no attempt is made to allocate or appropriate fixed costs to cost centers. the setting of prices is basically based on the variable costs of making a product. if the prices are set above this unit cost then each item sold will make a condition to fixed costs. on the other hand absorption costing or full costing is an approach to the costing of products that allocated all costs of production to cost centers. The aim is to ensure that all business costs are covered.