Saved Bookmarks
| 1. |
8. Define uniform costing. What are itsadvantages and disadvantages? |
|
Answer» Uniform costingis the application of the same accounting andcostingprinciples, methods or proceduresuniformlyby various undertakings in the same industry. It is a particular technique which applies the usual accounting methods like standardcosting, marginalcosting, and budgetary control. Uniform costingdevelops better informed and healthy competition within the industry which results in control and reduction of cost. 4.Uniform costingprovides the members with allbenefitsof soundcosting system. On the basis of available reliable cost information, product pricing is taken up on sound basis. Uniform costingis the application of the same accounting andcostingprinciples, methods or proceduresuniformlyby various undertakings in the same industry. It is a particular technique which applies the usual accounting methods like standardcosting, marginalcosting, and budgetary control. |
|