Costing is same as cost accounting as it also includes the cost incurred in the production. Costing includes fixed, variable and manufacturing cost of the product. Costing is also known as absorption costing.

Controlling and Costing Materials

Controlling and Costing Materials: After studying this chapter you should be able to: Effective materials management is essential in order to (1) provide the best service to customers, (2) produce at maximum efficiency, and (3) manage inventories at predetermined levels to stabilize investments in
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