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cs exe cost OPERATION COSTING
cs exe cost OPERATION COSTING cost and management accounting mcq formula notes Service costing is “A cost accounting method concerned with establishing the costs of services rendered”. Service costing is also applied within a manufacturing setting. The Differences Between Product Costing and Service Costing? • There may be very few, if any, materials to worry about • Overheads will comprise the most significant portion of any costs of which, labour costs may well comprise as much as 70% In this various terms such as passenger km, quintal km, tonne km, these are all known as composite units and are computed in 2 ways: a) Absolute (weighted average): (e.g.) tones km - Multiplying total distance by respective load quantity. b) Commercial (simple average): (e.g.) tonne Km–Multiplying total distance by average load quantity All accumulated cost is classified into 3 categories: 1) Standing charges (or) fixed cost 2) Running cost (or) variable cost 3) Maintenance charges (or) semi variable cost
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