Cost AccountingFinancial Management
Product costing based on materials, labor and overhead
The Cost Accounting system defines costing periods, cost drivers and allocation bases for service and production centers. Standard costing relies on predetermined rates and planned capacity, while actual costing draws on accounting data and recorded production activity. The product cost card shows the share of materials and operations separately.
Benefits of Cost Accounting
Standard and actual product cost calculation
Transparent allocation bases for labor and overhead
Use of actual accounting and production data
Material and operation shares shown on the product cost card
- Standard and actual product cost calculation
- Transparent allocation bases for labor and overhead
- Use of actual accounting and production data
- Material and operation shares shown on the product cost card
