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Marginal Costing-Quiz to test your Knowledge

Marginal Costing-Quiz to test your Knowledge !

Marginal cost may be understood as the change in the total cost when the quantity produced is incremented by one. In simple words, it is the cost of producing one more unit of a good.

Marginal cost is the increase or decrease in the total cost a business will incur by producing one more unit of a product or serving one more customer. Marginal cost of production decreases as the volume of output increases because of economies of scale. Costs are lower because you can take advantage of discounts for bulk purchases of raw materials, make full use of machinery, and engage specialized labour. In marginal costing, fixed costs are never charged to production. They are treated as period charge and is written off to the profit and loss account in the period incurre

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