Scope of specific order costing is very wide
and includes
Options
O Process, Contract and unit costing
Batch, Job and process costing
Unit, service and transport costing
O Job, Batch and contract costing
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Explanation:
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Scope of specific order costing is very wide and includes Job, Batch and contract costing.
Explanation:
- According to CIMA, "the basic costing approach is suitable in which the task is divided into different contracts, tasks, or batches, which are each approved by a special order or contract."
- Job costing: is used when work is done to the customer's specifications and each order is of a relatively short duration.
- Batch costing: This strategy is appropriate for replenishing supplies when a customer orders a specific amount of identical items or a batch of identical parts or products produced within a company.
- Contract Costing: It is used when a contractor and a client agree to complete a task or job, such as the construction of a building, a bridge, or a road.
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