Search results
Results from the WOW.Com Content Network
Process costing is a type of operation costing which is used to ascertain the cost of a product at each process or stage of manufacture. CIMA defines process costing as "The costing method applicable where goods or services result from a sequence of continuous or repetitive operations or processes. Costs are averaged over the units produced ...
Computer-aided process planning initially evolved as a means to electronically store a process plan once it was created, retrieve it, modify it for a new part and print the plan. Other capabilities were table-driven cost and standard estimating systems, for sales representatives to create customer quotations and estimate delivery time.
Standard Costing is a technique of Cost Accounting to compare the actual costs with standard costs (that are pre-defined) with the help of Variance Analysis. It is used to understand the variations of product costs in manufacturing. [6] Standard costing allocates fixed costs incurred in an accounting period to the goods produced during that period.
Process costing, a cost allocation procedure of managerial accounting Process management (project management) , a systematic series of activities directed towards planning, monitoring the performance and causing an end result in engineering activities, business process, manufacturing processes or project management
Some people argue that PCM is a synonym for target costing. [ 1 ] [ 2 ] [ 3 ] However, others argue that PCM is different, because target costing is a pricing method , whereas, PCM is focused on the maximum profit or minimum cost of a product, regardless of the price at which the product is sold to the end customer. [ 4 ]
The distinction between job costing and process costing hinges on the nature of the product and, therefore, on the type of production process: Process costing is used when the products are more homogeneous in nature. [1] Conversely, job costing systems assign costs to distinct production jobs that are significantly different. An average cost ...
The Vietnamese Wikipedia initially went online in November 2002, with a front page and an article about the Internet Society.The project received little attention and did not begin to receive significant contributions until it was "restarted" in October 2003 [3] and the newer, Unicode-capable MediaWiki software was installed soon after.
Lean thinking was born out of studying the rise of Toyota Motor Company from a bankrupt Japanese automaker in the early 1950s to today's dominant global player. [4] At every stage of its expansion, Toyota remained a puzzle by capturing new markets with products deemed relatively unattractive and with systematically lower costs while not following any of the usual management dictates.