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Absorption and Allocation Costing

Absorption and Allocation Costing

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Published by ashishmission2020
This contains information related to costing and This belongs to www.find4education.com and ww.amcap.in please send your feedback at ashish.goyal3@gmail.com
This contains information related to costing and This belongs to www.find4education.com and ww.amcap.in please send your feedback at ashish.goyal3@gmail.com

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Published by: ashishmission2020 on Apr 06, 2010
Copyright:Attribution Non-commercial

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03/12/2013

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Page 1
 
 Absorption and AllocationCosting
Prepared By:- Ashish Goyalwww.find4education.comwww.amcap.in
 
Page 2
 Absorption Costing
Absorptioncosting,isacostingtechniquethatincludesallmanufacturingcosts,intheformodirectmaterials,directlabour,andbothvariableandfixedmanufacturingoverheads,whiledeterminingthecostperunitofaproduct.Itisalsoreferredtoasthefull-costtechnique.
 
Page 3
V
ariable Costing
Only those costs of manufacturing that vary withoutput (variable costs) are treated as productcostsThis would include direct material, direct labor and variable manufacturing overheadFixed manufacturing overhead is expensedduring the current period
V
ariable costing is used for internal planning andcontrol only

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