Cost accounting assignment pdf

  • Types of cost accounting

    COST ASSIGNMENT involves assigning costs of an account to the accounts that are responsible or accountable for incurring the cost.
    For example, the cost of issuing purchase orders is allocated to the various objects procured.
    The cost assignment is done through assignment paths and cost drivers..

  • What is cost accounting assignment?

    Cost assignment is the allocation of costs to the activities or objects that triggered the incurrence of the costs.
    The concept is heavily used in activity-based costing, where overhead costs are traced back to the actions causing the overhead to be incurred..

  • What is the cost assignment method?

    Two types of systems can be used to assign indirect costs to cost objects.
    They are: 1. direct costing systems, also known as variable costing systems – assign only direct costs to cost objects, 2. absorption costing systems, also known as full costing systems – assign both direct and indirect costs to cost objects..


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