After studying this chapter you should be able to:
Understand the meaning and features of output costing.
Distinguish between the historical cost sheet and the estimated cost sheet.
Understand the significance of cost sheet.
Prepare a cost sheet and a production account.
Comprehend the special treatment of stock.
Differentiate between a cost sheet and a production account.
Explain the meaning of certain key terms.
Unit costing is a method of costing. This method is used:
Ascertainment of cost per unit ...