Shamsa Archive

Marginal Costing Definition

Marginal Costing Definition: Marginal Costing is a costing method that includes only variable manufacturing costs–direct materials, direct labor, and variable manufacturing overhead–in unit product cost. Marginal costing is also called variable costing and direct costing. Marginal cost of the product = Direct materials cost

Margin Definition

Margin Definition: Margin can be defined as net operating income divided by sales. Margin = Net operating income / Sales Sales include all cash as well as credit sales. Example: A company’s net operating income is $10,000. Total sales for the year were $30,000.

Manufacturing Cost Definition

Manufacturing Cost Definition: Manufacturing cost is equal to total direct materials cost plus direct labor cost plus Factory overhead. It is also called total factory cost. Formula of prime cost can be written as: Prime cost  = Direct materials + Direct labor Relevant terms:

Manager Definition

Manager Definition: Someone who works with and through other people by coordinating their work activities in order to accomplish organizational goals. OR One who handles, controls, or directs, especially: One who directs a business or other enterprise. One who controls resources and expenditures, as
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