Full Costing Definition:

Full costing is a costing method that includes all manufacturing costs – direct materials, direct labor, and both variable and fixed overhead – as part of the cost of a finished unit of product.

This term is synonymous with absorption costing.

Other Related Accounting Articles:

• Marginal Costing Definition
• Variable Costing Definition
• Direct Costing Definition
• Cost Accounting Procedure for Defective Work
• Flow of Costs
• Cost Structure
• Similarities between Job Order and Process Costing System
• Job Order Costing Questions and Answers
• High-Low Method
• Manufacturing Overhead Budget Definition