Fill in the answers using two decimals. Do NOT use spaces or signs C, Use two decimats even when the answer would be for example 200,00. Use comma () not dot () when separating the decimals. Keycard inc. Produces keycards. The fixed costs for the company are 12560 Cmonth. in the previous month the variatile costs were 50 000 € and the company produced 4000 keycards. Calculate unit cost using standard costing method when the company produces 4 000 units Elunit 5000 units Clunit 6000 units Cunit
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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