Product life cycle and Production cost: Difference between pages
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imported>Doug Williamson (Create page. Sources: linked pages and P Scott Accounting for Business 3rd edition.) |
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'' | ''Cost and management accounting.'' | ||
1. | |||
Total production cost is often defined as the total of Prime cost and Indirect overhead cost. | |||
2. | |||
The term 'production cost' may also be defined more broadly, or more narrowly, than this. | |||
Here as elsewhere, consistency of definition and of calculation are essential to producing meaningful comparable figures. | |||
The only safe approach is set out calculations in a clear manner that colleagues can understand and validate. In an educational assessment context, this means showing your workings. | |||
== See also == | == See also == | ||
* [[ | * [[Direct costs]] | ||
* [[ | * [[Direct expense]] | ||
* [[ | * [[Direct production cost]] | ||
* [[ | * [[Indirect costs]] | ||
* [[ | * [[Management accounting]] | ||
* [[Period costs]] | |||
* [[Prime cost]] | |||
* [[Production overheads]] | |||
[[Category: | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Revision as of 17:56, 10 February 2019
Cost and management accounting.
1.
Total production cost is often defined as the total of Prime cost and Indirect overhead cost.
2.
The term 'production cost' may also be defined more broadly, or more narrowly, than this.
Here as elsewhere, consistency of definition and of calculation are essential to producing meaningful comparable figures.
The only safe approach is set out calculations in a clear manner that colleagues can understand and validate. In an educational assessment context, this means showing your workings.
