Question

direct cost of material is --- in contract costing​

Answer 1

Answer:

Contract Costing is a special type of job costing, where the unit of cost is a single contract. The contract itself is a cost center and is executed under the customer’s specifications. Contract costing is a variant of job costing system applicable, particularly in case of the organization’s doing construction work. It is also known as terminal costing. Each contract, short term, or long term, is treated as a job.