Define uniform costing

Question

Give a short introduction about the term uniform costing?

Answer 1

Uniform costing is the submission of the costing accounting and same principles, techniques or processes consistently through a range of undertakings in the same firm. It is an exacting method which applies the customary accounting techniques such as standard costing, budgetary control, and marginal costing.

Uniform costing technique can be beneficially implemented:

- In particular organization having numeral of branches.
- In a number of industries in the same business who are inter attached throughout trade association.
- In industries that are alike like cotton, electricity and gas.