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What is meant by the term “Batch Costing”? Name any two industries where Batch costing is used. |
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Answer» A batch refers to the bunch of identical items of products or components. Batch Costing is defined as “that form of specific order costing which applies where similar articles are manufactured in batches either for sale or for use within the undertaking”. Batch costing is used in Toy industry, shoe manufacturing industry, readymade garment industry, pharmaceutical industry etc. |
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