Question

What is marginal costing? Explain advantages and limitations of Marginal Costing.

Answer 1

In economics marginal cost is a change in in the total cost that arises when the quality is increase.

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Answer 2

Marginal costing and its Advantages

Explanation:

• It is a costing system of an approach in which only variable costs are included in the cost of sales.

Advantages of Marginal Costing

• Helpful in short term decisions especially limiting factors. Identify the relevant costs.
• Profits vary depends on the sales volumes not on production volumes.

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