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Methods for Finding of Unit Costing

To find out the unit cost of production, three sys-tems are mainly, used in cost accounting. These systems are as follows- 1.Cost Sheet2.Statement of Cost.3.Production Account. Cost Sheet Cost sheet is a tabular type...

process of accounting costing

Process Costing This system of cost determination is used in those firms and industries, where the raw material passes through various processes and stages before it is converted to a manufactured goods or finished...

By  product production

By-products In the production process, by-products are got from many of the materials used in the work of production. For example, oil cakes from oil seeds, cotton seeds in the production of cotton. These...

Statement of Cost accounting

Theoretically, cost sheet and statement of cost are similar. Cost sheet is a component of the manufacturing factory, and its main objective is to present total cost or per unit cost by classifying every...