Scribd
Upload
2 views1 page

Cost Accounting Notes - Part 2 Costing Methods & Inventory

This document outlines various costing methods including Job Order, Process, Batch, Contract, and Activity-Based Costing (ABC). It also discusses inventory valuation methods such as FIFO, LIFO, and Weighted Average, along with key concepts in Cost-Volume-Profit analysis and marginal costing. Important formulas for total cost, cost of goods sold, and net profit are provided for reference.

Uploaded by

lumber jack
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
2 views1 page

Cost Accounting Notes - Part 2 Costing Methods & Inventory

This document outlines various costing methods including Job Order, Process, Batch, Contract, and Activity-Based Costing (ABC). It also discusses inventory valuation methods such as FIFO, LIFO, and Weighted Average, along with key concepts in Cost-Volume-Profit analysis and marginal costing. Important formulas for total cost, cost of goods sold, and net profit are provided for reference.

Uploaded by

lumber jack
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

Cost Accounting Notes - Part 2: Costing Methods & Inventory

6. Costing Methods
- Job Order: Customized jobs

- Process: Continuous production

- Batch: Grouped production

- Contract: Long-term projects

- ABC: Activity-based costing

7. Inventory Valuation Methods


- FIFO: First in, first out

- LIFO: Last in, first out

- Weighted Average: Average cost per unit

8. CVP & Break-Even


Break-even Point (units) = Fixed Costs / (Selling Price - Variable Cost)

Contribution Margin = Sales - Variable Costs

9. Marginal Costing
- Only variable costs are considered

- Fixed costs treated as period cost

- Useful for decision-making

10. Important Formulas


- Total Cost = Prime Cost + Overheads

- COGS = Cost of Production + Opening FG – Closing FG

- Net Profit = Sales – Total Cost

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy