Experience the most reliable and trusted cost accounting help at affordable prices

While cost is the total amount that is spent by the organization on its labor, equipment, services, raw material, and on other objects that are used in the process of manufacturing a product or rendering services, cost accounting is the branch of accounting that helps the company to prepare a detailed presentation of the cost information of the company. Various topics that come under the purview of cost accounting include real cost, accounting cost, direct and indirect cost, explicit and implicit cost, opportunity cost, sunk cost, economical cost, and incremental cost. Thus, cost accounting is a really broad subject and helps students in all these aspects.

Avail superior quality cost accounting help from expert professionals

Cost accounting helps to provide assistance and literary guidance with the major topics that are associated with the subject. But this is not an easy task and students need to put in a lot of hard work to completely understand this subject and complete its assignments in time. The team of experts at MakeMyAssignments is well versed with this subject, and our experts on board can offer you superior quality online accounting assignment help.

                                  

Read on to find out about the various cost accounting methods that are studied under cost accounting, that our professional assignment writers are well versed with.

1.     Unit costing method

Also known as the single output costing method, under this method, costing is done with respect to individual units, or here, products are produced under a continuous production activity. The mining industry and cement industry are perfect examples of industries where this method is followed.

2.     Job costing method

Under the job costing method, costs ate determined in relation to a particular work order which has its unique scope and specification. This method is therefore used for tailor-made products. Major areas where this is used includes repair work and renovation of a building, interior decorating, etc.

3.     Batch costing

This specific method of cost accounting is utilized in industries where the production takes place in batches, and where these batches produce products that are of a similar nature and design. An excellent example of such a kind of production would be the pharmaceutical industry.

4.     Service Costing

This cost accounting method is also known as the operating costing method and is used to determine the cost of various kinds of operating services. Examples of this include railways, public transportation service, hospitals, etc.

5.     Contract costing

Under this cost accounting method, costing is done for those jobs that incur heavy expenditure and stretches for a significant period of time over a myriad of construction sites. This method, thus, is generally used to determine the cost that is incurred during the construction of buildings, bridges, dams, roads, etc.