Question

If more than one company uses the same system and method of costing then it is known as

Answer 1

Explanation:

DEFINITION of Full-Cost Method. The full-cost method is an accounting system used by companies that incur exploration costs for oil and natural gas that does not differentiate between operating expenses associated with successful and unsuccessful exploration projects.

Answer 2

Answer:

The generally-used types of costing are as follows: Marginal costing: Marginal costing entails the allocation of only variable costs, i.e. direct materials, direct labour and other direct expenses, and variable overheads to the production. It does not take into account the fixed cost of production.