what is the defination of unit costing and process costing?
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Answer Posted / h.r. sreepada bhagi
Both Unit Costing & Process Costing are two methods of
costing. In the former cost of producing one unit of output
is calculated and in the latter, when multiple process is
involved in the manufacture of products, cost of the output
at each of the process & finally the cost of teh finished
product is ascertained.
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