Methods of Costing 44

1. Ascertainment: Is the accounting result

2. Fixed cost: Indirect labor

3. Labor cost: includes both salary and payment to social security and private insurance

1. Batch Costing

2. Process costing.

3. Multiple Costing

Absorption Costing takes into account variable and fixed costs.

historical Costing identifies the ascertainment and recording of annual costs. Referring to material costs, labor cost and overhead costs.

We define cost as an equivalent cash amount that we give to a specific product or service.

1. What is the difference between costs and expenses? Why do you think they are different?

The difference is the cost is the investment made in the product, while the expense is the disbursement in activities related to the operation of the activity necessary for production.

They are different because one is used for investment and the other is used for the activities of the company's operation.

2. Do you think costs are important to set the price of a product? Why? Why not?

Yes, the costs are important to establish the price of the product because it will help us determine its profitability the value of each material used for the creation

 and/or elaboration of the same and helps us to compare with market prices.

1.. What is the difference between costs and expenses? Why do you think they are different?

 The cost will be given to us by the expenses of a company after the provision of services or the production and manufacture of articles. The expense for its part, is the disbursement of the company to carry out its usual activities, such as payments for office services: electricity, gas and telephone.

2. . Do you think costs are important to set the price of a product? Why? Why not?

Setting the price of a product or service is one of the most important decisions for a business, since it must be an amount that can cover costs, expenses, generate profits and, above all, that customers are willing to pay.

1.The cost will be given to us by the expenses of a company after the provision of services or the production and manufacture of articles. The expense for its part, is the disbursement of the company to carry out its usual activities, such as payments for office services: electricity, gas and telephone.

2.I think yes, in order to determine at what value it is bought and at what value it can be sold.

Costs and expenses are similar concepts, and they're sometimes used interchangeably, but there are some differences for businesses to consider. A cost typically refers to the price paid to acquire an asset, while an expense is an ongoing expense, such as an employee's salary or rent on a retail space.

The price you charge for your product or service is one of the most important business decisions you make. Setting a price that is too high or too low will - at best - limit your business growth. At worst, it could cause serious problems for your sales and cash flow.

1. The difference is that the expenses are reduction of money and the costs are investments, for the sale of a product or service.

Because the expense comes from an indirect benefit and the costs, a direct benefit.

2. Yes, because we can determine the unit value of the product and be able to offer it to a third party

1. The cost will be given to us by the expenses of a company in post of the provision of services or the production and manufacture of articles. The expense, on the other hand, is the disbursement of the company to carry out its usual activities, such as payments for office services: electricity, gas and telephone.

2.Because through costs you can determine the price of the product with its profitability.

1. The difference between cost and expense is that the first indicates the investment necessary to produce a particular product, and on the other hand, the expense is the disbursement of money that is made to carry out each of the activities that are needed for the production of that product. said product.

2. The importance of pricing a product correctly is that it is one of the first considerations for many customers and determines the profit margin that each product provides. A bad pricing decision can even bring down a company.

1 Marginal Costing:the increase in production costs due to the production of more units of a product

2.Process costing:are incorporated into the inventories of raw materials, work-in-progress and finished goods and are reflected in the balance sheet.

3 .methods of costing:to determine the cost of a product, based on the expenses incurred for its acquisition.

1.What is the difference between costs and expenses?

The cost differs from the expense in that the cost is a direct part of the production process, so that the cost is present within the cost of the good produced or marketed, while the expense is not incorporated into the product.

My opinion is because the cost has a lot of difference to the expense since it is constituted by the disbursement that the company makes in order to maintain the entire production process, whether of goods or services, such as the purchase of raw materials, which in conclusion would be the materials. There is also the process of transporting the products.expenses are all payments made by the company to produce the product or service but are not fully linked in the manufacturing process. As we can see, both have differences.

2.yes, of course, it is very important because that way we can know which products or services generate higher returns and thus be able to make projections in the future.

1)The company claimed that the total freight cost should have been related to the cif transactions only.

2. When you finance your maintenance expenses, you can know and plan for a fixed cost upfront.

3. Where there is no scientific answer, there is the ascertainment that this is so

1)Batch Costing: You collect costs by joining similar units within a unique cost. You need to determine the cost per unit by dividing the total cost of the batch by the number of units. Applicable for drug industries, electronic components manufacturing, etc.

2)Output Costing: Unit or single costing, applicable for single products or different levels of the same product. The division of the total cost by the number of units. Industries like cigarettes, pencils, cement.

3)ascertainment: Well, costing methods indicate a group of procedures that refers to cost ascertainment.

1.We define cost as an equivalent cash amount that we give to a especif product or service.

2.Absorption costing takes into account variable and fixed costs.

3. Costing methods indicate a group of procedures that refers to cost ascertainment.

1.Absorption Costing= As a result, under absorption costing, fixed overhead is a product cost until the products are sold.

2.Marginal Costing= Variable Costing is also referred to as the Direct Costing method or the Marginal Costing method.

3.Contract costing= The only evidence was International Contractors-Egypt's own budgeted contract costing schedule, which refers to a 45 per cent profit margin with no explanation or support.

1. The accounting is important for the company.

2. You must have control of spending in the company.

3. The cost provides the value of the item

Apart from its efficiency and transparency, among the ITF's most visible achievements are a low overhead cost

Coupons may be purchased with check, money order or for the exact cash amount.

We will charge for labor cost, material cost, etc. with the authorization of customer.

1 Costing methods depend on the type of company.

2. Historical Costing identifies the ascertainment and recording of annual costs.

3.Remember that costs include all items necessary to get the product or service ready for use.

1. Accounting provides cost control.

2.Costing methods depend on the type of company.

3.Costs express a cash equivalent.

1.freight cost:

 Sample Free samples if freight cost provided

2. fixed cost :

Physical assets represent significant fixed cost, and a substantial investment.

3.ascertainmente:

Considerations relating to the collection, classification and ascertainment of costs

1. Many times when we are starting our businesses we do not adequately interpret the difference between cost and expense, although it can be interpreted as the same thing, but they are not.

2. The cost is the economic expense that represents the manufacture of a product or the expenses for the provision of a certain service, it is formed by the price of the raw material, direct and indirect labor plus the cost of amortization of the machinery. and building.

1. The difference between costs and expenses is what costs is the disbursement made to produce a given product. Instead, expenditure is the general disbursement made by the company for the development of its activities. COSTS: This is a set of expenses. And therefore - EXPENSES: It's a part of the cost.

2. Based on this, different strategies can be implemented to optimize production costs, such as cutting personnel, purchasing more efficient machinery, implementing more economical materials, etc.

1)The cost will be given to us by the expenses of a company, and the expense for its part, is the disbursement of the company to carry out its usual activities, I think they are different because they do not have the same function

2)yes, because Knowing the costs of an organization allows determining the result (profit or loss) of the operations, in addition, they turn out to be a fundamental tool for decision making.

1. The difference between cost and expense is that the first indicates the investment necessary to produce a particular product, and on the other hand, the expense is the disbursement of money that is made to carry out each of the activities that are needed for the production of that product. said product

2. Yes, of course, because that way we can determine if the product is profitable to sell, in order to have a viable price.

1.The cost will give us the expenses of the company for the services provided or production and the expense is the disbursement of the company to continue with its activities

2.The determination of the costs of our products or services will help us determine their profitability based on the comparison with market prices. to be good competitors

1. They are different since the cost will give us the expenses of a company for the provision of services or the production and manufacture of articles.

The expense on its part, is the disbursement of the company to carry out its usual activities, such as payments for office services: electricity, gas and telephone.

2. The determination of the costs of our products or services will help us determine their profitability based on the comparison with market prices. However, the commercial profitability of a company's products or services depends on the adjustment of its costs.