1 / 10

Types of Costing Methods

Get to know about the types of cost accounting with BookMyEssay. They have a team of professional writers who provide the best in class writing services.<br>Read more: https://www.bookmyessay.com/cost-accounting-assignment/

RichardLawrence
Download Presentation

Types of Costing Methods

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Types Of Costing Methods: Accounting Cost And Analytical Cost

  2. The Foremost Objective Of An Organization Is To Earn The Maximum Profit Which Is The Subject To The Cost Posed By The Organization For Various Activities. There Are Mainly Three Different Types That Are Relevant To Business Operations And Play An Important Role In The Decision-making Process.

  3. Why It Is Crucial To Understand The Costing Structure? It is necessary to have a concise idea about the cost incurred during the production process to set the price for the finished product. In nutshell, the price at which organization is willing to sell its product depends on the cost of the production.

  4. There Are Two Different Types Of Cost: 2. Analytical Cost 1. Accounting Cost

  5. Accounting cost: Accounting cost refers to the expenses of an organization that incurred during action and is generally recorded in the books of accounts.

  6. 1. Wages to labor 2. Interest on borrowed capital 3. Rent paid to owners of the land 4. Cost of raw materials This Type Of Cost Includes: 5. Depreciation of capital goods

  7. Analytical Cost: Analytical Cost is those costs that are added to the accounts for analyzing production activities. Analytical cost is helpful in making organizational decisions in various time periods.

  8. • Fixed Costs and Variable Costs. • Total Cost, Average Cost, and Marginal Cost This Type of Cost includes:

  9. If You Need More In-depth Information, Then You Can Hire Cost Accounting Assignment Help From BookMyEssay. You Can Get All Kind Of Homework Help From This Website.

  10. Website: https://www.bookmyessay.com/ Email: assignmenthelp@bookmyessay.com Contact Now

More Related