Operating costing method is one designed to ascertain and control the costs of the undertakings which do not produce products but which render services. Operating costing is also known as service costing. It is that form of operation costing which applies where standardised services are provided either by an undertaking or by a service cost […]
Operating Costing
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Marginal Cost
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Marginal cost is the additional cost of producing an additional unit. It is nothing but variable cost. It comprises direct materials, direct labour and variable overheads. The C.I.M.A. London has defined marginal cost as – “the amount at any given volume of output by which aggregate costs are changed, if volume of output is increased […]
Costing Methods and Techniques
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Everything you need to know about the methods and techniques of costing. The methods or types of costing refer to the techniques and processes employed in the ascertainment of costs. There are different methods of costing for different industries. The method of costing to be used in a particular concern depends upon the type of […]