Transcription of 7 Marginal and absorption costing - …
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7 Marginal and absorption costing - …
7 marginal and absorption costing this chapter This chapter focuses on the costing methods of Marginal and absorption costing and compares the profit made by a business under each method. The chapter concludes with the layout of a manufacturing account and statement of profit or loss (income statement) and where the different types of inventory raw materials, work-in-progress, finished goods are shown in the financial statements. This chapter explains: n the different treatment of product costs and period costs in Marginal costing and absorption costing n how Marginal costing works, including the calculation of contribution, and its role in short-term decision-making n how absorption costing works, including the valuation of closing inventory n a comparison of profits when Marginal costing and absorption costing are used n the layout of a manufacturing account to show production cost a statement of profit or loss to show profit for the year Marginal and absorption costing 201.
marginal and absorption costing 201 marginal and absorption costing systems These two costing systems are often used in cost accounting, but for different
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