Company ABC  has the following Monthly Incurred Costs for the Year 2021:              January      =  P 174, 000.00               February   =  P  135,200.00               March       =  P  200,000.00              April            =  P  230,000.00              May            = P  260,000.00              June           =  P  132,000.00              July             =  P   35,000.00             August        =  P  340,000.00             September =  P 170,000.00             October      =  P   30,000.00             November  =  P 230,000.00             December  =  P 180,000.00    What is the Equivalent Uniform Quarterly Cost  incurred by the company the the  available Interest rate is  12%   compounded semi-annually.

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Contract Costing

Contract costing is about tracing particular costs related to a particular contract entered into with the customer. It is one of the forms of job order costing. It is useful in long-term contracts at the most. It is seen that substantial time is required for the completion of the contract which takes different accounting periods. Thus, it is very much helpful for recognizing the costs associated with it and accounting in their specific accounting periods.