Absorption Costing Versus Marginal Costing - 4 Steps in Absorption Costing (AAT, ICB)
Автор: Rebecca's Finance Tutorials
Загружено: 2022-06-20
Просмотров: 5692
Описание:
In this video I discuss the four stages of absorption when we look at absorbing overheads costs including allocation, apportionment and absorption.
I also discuss rate per unit and the alternative rate of absorption as well as the differences between absorption and marginal costing to help with your understanding.
Affiliate links - Equipment used:
https://amzn.to/3A1KVnP - Camera
https://amzn.to/3x32MZw - Camera stand
https://amzn.to/35WzDUg - Foldable Desk
This would be useful to anyone studying AAT Level 3 or Level 4 (AAT level 4) or even CIMA, ACCA or ACA.
Overheads can be split into direct costs and indirect costs. Direct costs are directly attributable to a cost centre whereas indirect costs are more difficult to attribute and need to be apportioned across many different cost centres.
Indirect costs can be variable, fixed or semi-variable (which include both fixed and variable elements).
We also need to ensure that in the third step of apportionment, we re-charge service cost centre costs to the various other production cost centres.
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