Question

Which of the following is not a method of Costing? *

A. Process Costing
B. Standard Costing
C. Contract Costing
D. Unit Costing

Answer 1

Answer:

contract costing is not method of Costing

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Answer 2

(b) Standard costing.

• Process costing is a type of costing that's primarily utilized in manufacturing, where products are mass-produced constantly using one or more processes.
• Examples of this type include producing chemicals, erasers, or processed foods.
• One of the costing methods is contract costing, often known as terminal costing.
• Each contract in this has a unique number, and the records are kept separately.
• The majority of builders, construction companies, contractors, etc. adopt this technique.
• Unit costing is a method of pricing where identical, similar, and homogenous things are produced continuously on a big scale.
• Standard costing is not necessarily considered a method of costing.

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