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Costing Systems – Ten Questions Quiz Part 2!

Costing Systems

In Cost Accounting there are various costing systems. Different types of costing systems are necessary for different types of businesses. Here are some costing systems defined and at the end you can find an interesting quiz to learn with fun.

Unit costing refers to the costing procedure, which is ideally used in case of concerns producing a single article on large scale by continuous manufacture. The cost units are identical with identical costs. The cost incurred during a period is divided by the total output for ascertaining the cost per unit.

Batch costing system is used when production is in batches.

Job costing is a costing system which considers job a cost unit. A job is a cost unit which consists of a single order or contract.

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