Methods of Costing

7 topics

1. Single Output/ Unit Costing
2. Job Costing: Job cost cards and databases, collecting direct costs of each job, attributing overheads to jobs, Application of job costing
3. Batch Costing: Determination of optimum batch quantity, Ascertainment of cost for a batch, Preparation of batch cost sheet, Treatment of spoiled and defective work
4. Process/ Operation Costing: Process cost recording, Process loss, Abnormal gains and losses, Equivalent units of production, Inter-process profit, Valuation of work in process
5. Process/ Operation Costing: Joint Products-Apportionment of joint costs, Methods of apportioning joint cost over joint products
6. Process/ Operation Costing: By-Products-Methods of apportioning joint costs over by- products, treatment of By-Product cost
7. Costing of Service Sectors: Determination of Costs and Prices of services