What is Cost Accounting?
Cost Accounting: The current official terminology of the Chartered Institute of Management Accountants of England (formerly known as Institute of Cost and Management Accountants of...
Cost Accounting: The current official terminology of the Chartered Institute of Management Accountants of England (formerly known as Institute of Cost and Management Accountants of...
Selling and Distribution overheads : This refers to various indirect expenses incurred in connection with marketing and distribution of the product. e.g. : Sales commission,...
NEED / IMPORTANCE / ADVANTAGES OF COST ACCOUNTING: (1) Determination of total cost: Cost accounting helps to account for all the costs incurred in manufacturing...
Methods of Costing: Cost may be ascertained by different methods depending upon the type of output and nature of production. (1) Job Costing: Companies producing...
In Marginal costing, total cost is divided into variable cost & fixed cost. Variable cost amount will change in relation to changes in levels of...
COST OF SALES : = COST OF GOODS SOLD + SELLING AND DISTRIBUTION OVERHEADS
FACTORY / WORKS COST : = PRIME COST + FACTORY OVERHEADS
Semi Variable expenses : This refers to those expenses, which are partly fixed and partly variable. e.g. : Telephone expenses, Electricity, Travelling charges, etc.
Break Even Point ( BEP ) : BEP means the point of no profit or no loss. BEP is the output level or sales value,...
Factory overheads : This refers to various expenses incurred in relation to the manufacturing or production of the product. This is also known as “Factory...