--%>
Assignment Help - homework help

Actual costing

A function of measuring and assigning production costs to determine the unit cost. Actual revenue assigns the real cost of materials, labor, and overhead to mass production. Compare with normal costing, which uses a predetermined rate to assign overhead to production costs. Actual costing is rarely used because actual overhead cost is not available in time to calculate the needed unit cost. Actual costing expands upon the functionality of the application components with the purpose of determining actual costs for externally procured materials and materials produced in-house. In addition, actual costing uses actual costs to valuate material inventories, such as raw material as well as quasi finished and finished product

 

 

 

   Related Questions in Managerial Accounting

  • Q : Define Unit Cost Unit Cost : The cost

    Unit Cost: The cost of a chosen unit of a good or service. Illustrations comprise dollar cost perton, machine hour, labor hour, and department hour.

    		•
  • Q : Define Opportunity Cost Opportunity

    Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.

    		•
  • Q : What is Incremental Cost Incremental

    Incremental Cost: The raise or reduction in total costs which would result from a decision to raise or reduce output level, to add a service or task, or to modify any part of operations. This information aids in making decisions such

    		•
  • Q : Comparative-Advantage Approach to

    We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w

    		•
  • Q : Describe Cost Reduction Cost Reduction

    Cost Reduction: The procedure of looking for, finding and eliminating unwarranted expenses from the business to raise gains without containing a negative impact on the product quality. Most of the business managers will engage in periodic cost reducti

    		•
  • Q : Provision of management accounting

    What do you mean by the term provision of management accounting information?

    		•
  • Q : Define Activity Activity : The real

    Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.

    		•
  • Q : What find out the size of this loss

    What find out the size of this loss? The size of the deadweight loss is based on the elasticity of supply and demand. As the elasticity of demand increases and the elasticity of supply decreases, that means as sup

    		•
  • Q : Things which Weaknesses comprises Write

    Write a brief note on the things which Weaknesses comprises?

    		•
  • Q : Conditions in which fixed capital of

    Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:

    		•