System Normal Costing Definition
Normal Costing System Definition:
Normal Costing system is a costing system in which overhead costs are applied to jobs by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job.
Other Related Accounting Articles:
- Selecting Allocation Base
- Factory Overhead Idle Capacity Variance
- Factory Overhead Spending Variance
- Standard Costing and Variance Analysis Case Study
- Definition and Explanation of Activity Based Costing System
- Service Department Costing
- Step Method of Cost Allocation
- Overall or Net Factory Overhead Variance
- Standard Costing and Variance Analysis Problems & Solution
- Standard Costing System Discussion Questions and Answers
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