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what is the defination of unit costing and process costing?
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Answer / ranjeet jha
Unit costing levied on item when we want to find what will
be unit cost of such item. but process costing produced
when we do process costing of such item.
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Answer / h.r. sreepada bhagi
Both Unit Costing & Process Costing are two methods of
costing. In the former cost of producing one unit of output
is calculated and in the latter, when multiple process is
involved in the manufacture of products, cost of the output
at each of the process & finally the cost of teh finished
product is ascertained.
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Answer / jyothi
in unit costing cost per unit is charged to the products
that are produced where as in process costing unit cost is
charged to their respective departments
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Answer / krish
When identical units of single product line are produced
through single manufacturing line all the costs are to be
allocated to that manufacturing line and then averaged and
absorbed by each unit of final product the system used for
averaging is called unit costing. On the other hand when
identical units units are produced via multiple manufacturing
processes cost of each process is first accumulated and then
cost of each process is averaged and absorbed by each unit of
final product the system used for averaging is called process
costing.
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