Accounting for By-Products Accounting for Joint Products Co-Products

Service Costing
Features of Service Costing
Applications of Service Costing Unit Costing and Multiple Costing Cost Unit
Transport Costing
Bailer House Costing
Canteen Costing
Hospital Costing
LESSON ROUND-UP SELF-TEST QUESTIONS
Learning Objectives
Marginal Costing
Features of Marginal Costing
Advantages of Marginal Costing
Limitations of Marginal Costing
Break-even Analysis/Cost-Volume-Profit Analysis Objectives of Cost-Volume-Profit
Analysis Advantages of Break-even Analysis
Limitations of Break-even Analysis Uses of Cost Volume Profit Analysis
Contribution
Marginal Cost Equation Profit-Volume Ratio
Margin of Safety
Methods for Determining Break-even Points
Break-even Chart
Profit-Volume Chart
Applications of Marginal Costing
Composite Break-Even Point
Absorption Costing
System of Profit Reporting
Difference between Absorption Costing and Marginal Costing
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(xvi)
LESSON 8
MARGINAL COSTING

Income Measurement under Marginal and Absorption Costing Pricing Decisions

(Discriminating Price and Differential Selling) LESSON ROUND-UP
SELF-TEST QUESTIONS
Learning Objectives
Standard Costing
Definition and Meaning of Standard Costing Significance/Advantages of Standard
Costing Applications Standard Costing
Various Types of Standards
Standard Costing System
Installation of a Standard Costing System Functions of a Standard Costing System
Features of a Standard Costing System
Standard Cost for Material, Labour and Overhead Direct Materials Standards
Standard Cost for Direct Labour
Standard Overhead Rates
Standard Administration Costs
Standard Costs for Selling and Distribution Variance analysis
Material Cost Variance
Labour Cost Variance
Overhead Cost Variances
Variable Overhead Variance
Fixed Overhead Variance
Accounting Treatment of Variance
Bench Marking for setting of a standards Reporting of Variances to Management
LESSON ROUND-UP
SELF-TEST QUESTIONS
Learning Objectives Budget
Budgeting
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