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Standard Costing 

Standard Costing 

Standard costing  includes setting standard rates to absorb material , labour ,overheads. Setting of standards rates helps in  exact valuations , strengthening control over differences and performance measurement. Standard costing aims to set standards at pre-determined rates and to account for differences of possible variations. These are studied and reasons are analyzed , technically spelled …

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Marginal and Absorption Costing Methods

Marginal and Absorption Costing Methods

Marginal and Absorption Costing Methods The main difference between marginal costing and absorption costing is that Under Marginal costing all the fixed cost is treated as period cost whereas under Absorption costing the fixed cost is treated as product cost.   Marginal Costing Absorption Costing   Direct Material + Direct Labor + Variable FOH   …

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