(function($){ /** * A quick plugin which implements phpjs.org's number_format as a jQuery * plugin which formats the number, and inserts to the DOM.
Process costing. Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production. Eventually, costs have to be allocated to individual units of product. It assigns average costs to each unit, and is the opposite extreme of Job costing which attempts to measure individual costs of production of each unit. Process costing is usual
Cost accounting is mostly concerned with developing an understanding of where a company earns and loses money, and providing input into decisions to generate profits in the future. Key activities include: 1  Defining costs as direct materials, direct labor, fixed overhead, variable overhead, and period costs. 2  Assisting the engineering and procurement departments in generating standard costs, if a company uses a standard costing system.