partial listing of costs incurred during February at Abc Corporation appears below: Factory supplies $9000. Administrative wages and salaries $106000 Direct materials $142000 Sales staff salaries $53000 Factory depreciation $28000 Corporate headquarters building rate $30000 Indirect labour $24000 Marketing $129000 Direct labour $74000 What is the total of the manufacturing overhead costs listed above for February?
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.
partial listing of costs incurred during February at Abc Corporation appears below:
Factory supplies $9000.
Administrative wages and salaries $106000
Direct materials $142000
Sales staff salaries $53000
Factory
Corporate headquarters building rate $30000
Indirect labour $24000
Marketing $129000
Direct labour $74000
What is the total of the
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