Friday, October 24, 2014

What is Single or Output Costing ?

Industries which produce only a single uniform product or a very small number of similar products or a single product of different grades, use single or output costing. Here the approach is period approach.The period cost being divided by the number of units produced., gives the unit cost. Iron and steel industries, breweries, collieries, mine and quarries etc use single or output costing.