Class Notes (1,100,000)
CA (630,000)
York (40,000)
ADMS (3,000)

Review of costing.docx

Administrative Studies
Course Code
ADMS 2510
Geoff Lawrence

This preview shows half of the first page. to view the full 1 pages of the document.
Review of costing
Product costing
Job-order costing: a costing system used in situation where many different products, jobs, or services
are produced each period.
Process costing:
Activity-based costing
Cost accumulation
Absorption costing
Variable costing
Cost valuation
Job-order costing
- Actual costing
- Normal costing
- Standard costing
Process costing
Valuation methods
- Weighted-average method
 
 
- FIFO: a method of accounting for cost flows in a process costing system in which equivalent
units and unit cost relate only to work done during the current period.
Keeping production & costs of beginning WIP separate from those of current period.
Operation costing
You're Reading a Preview

Unlock to view full version