LO 6.5Absorption costing is also referred to as:

Business

1 answer:

dsp733 years ago

8 0

Answer:

full costing

Explanation:

Total costing often recognized as absorption costing is utilized to assess A commodity's complete and total expense. The method is most widely used to document in the financial reports the full amount of the product.

This form of costing becomes necessary under many accounting structures for internal controls like Generally Accepted Accounting Principles as well as International Financial Reporting Standards and income tax reporting.

The basic principle underlying complete costing is to allocate all variable costs to something like a cost item and also overhead cost assignment. A cost subject is something that gathers cost information, such as with a consumer, inventory, facility, shop, geographical region, product line, etc.

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