Question

the method of costing applied in a lathe is

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Answer 1

Answer:

index

Explanation:

Hope it's helpful for you.

Answer 2

The correct answer is Job Costing.

• Job costing is a detailed method of monitoring all costs and revenue related to a certain project.
• Projects could include one-time customer projects, the creation of new items, or the delivery of a large number of products that will be manufactured concurrently.
• Job costs are commonly divided into three categories: labor, materials, and overhead - through each of these categories can be further subdivided.
• Labor costs, for example, could include both employee salaries and third-party vendor fees.
• Material expenses might comprise both direct raw materials that appear in a finished product and indirect materials utilized to manufacture the product, such as equipment.
• Companies must account for and plan for each of these components to complete projects successfully and on time.