Cost accounting unit 1 pdf

  • Types of cost accounting

    A unit cost is a total expenditure incurred by a company to produce, store, and sell one unit of a particular product or service.
    Unit costs are synonymous with cost of goods sold (COGS).
    This accounting measure includes all of the fixed and variable costs associated with the production of a good or service..

  • What is cost accounting as a unit?

    Cost Accounting is a method that records and analyses the cost incurred (per unit) during the production of goods.
    It analyses input cost, individually, at every functional stage including production, administration, R&D, selling & distribution..

How to choose a cost accounting system?

The cost accountant should select the proper method based on following factors:

  • 1.
    The frequency of purchases, price fluctuations and its range. 2.
    The frequency of issue of materials, relative quantity etc. 3.
    Nature of cost accounting system. 4.
    The nature of business and type of production process. 5.

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