Question

send me written notes cost accounting​

Answer 1

Answer:

Costs may be ascertained:

(i) Historically; i.e. after they have been incurred; or

(ii) By predetermined standards combined with subsequent analysis of variances between these standards, and the actual cost incurred; and

(iii) By the use of marginal methods of presentation for either (a) or (b), involving the differentiation between “fixed” and “variable” costs.