Cost And Management Accounting Dersi 2. Ünite Sorularla Öğrenelim

In order to calculate the product cost what is necessary in actual costing method?

In order to calculate the product cost, it is necessary that the production is completed and all related expenditures have incurred.

In actual costing method,when is product cost calculated ?

In actual costing method, product cost is calculated at year-end by using the cost data that incurred during the year.

What are the costing methods by the scope of product cost coverage ?

• Full Costing Method
• Normal Costing Method
• Variable Costing Method
• Direct Costing Method
• Throughput Costing Method

Which costing method is treated as product costs under variable costing method ?

Only the variable manufacturing costs are treated as product costs under variable costing method, variable non-manufacturing costs are excluded despite their variable nature.

Describe ''Normal costing method''.

Normal costing method also suggests covering all manufacturing factors as product cost in parallel to the full costing method; however, in normal costing method costs of indirect manufacturing factors are allocated to products depending on the utilization rates of these factors (Lazol, 2011:
133).

Describe ''Throughput costing method''

Throughput costing method, which is also called as super variable costing, does not have widespread use in practice. Under this method, only the direct material cost is the product cost, while all other manufacturing related expenditures are considered as period expenses to be reported in the income statement.

Many different costing methods are developed by considering different perspectives.What are they?

1.the scope of cost definition,

2.time of calculation 

3.the calculation style.