Tuesday 13 August 2013

What are absorption, variable, and throughput costing approaches?

Absorption costing, variable costing, and throughput costing 

 There are three accounting approaches used to assign costs for income statement reporting purposes: absorption costing, variable costing, and throughput costing.  These methods are differently used for external and internal reporting purposes. In addition, these approaches differ in the way they treat product (inventory) and period costs.


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