17 -Which of the following is the cost method used by companies that produce different products in certain batches ? a)Normal cost method B)Standard cost method NS)Phase cost method D)full cost method TO)Order cost method

Introduction Cost method are used by the entity to estimate the cost of products on a certain…

Answered: - Which of the following is the cost…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 4SEQ: For which cost concept used in applying (he cost-plus, approach to product pricing are fixed...

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17 -

Which of the following is the cost method used by companies that produce different products in certain batches ?

a)	Normal cost method

B)	Standard cost method

NS)	Phase cost method

D)	full cost method

TO)	Order cost method

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

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