Absorption costing

Absorption costing

Costing system wherein fixed manufacturing overhead is allocated to (or absorbed by) products being manufactured. This system, which treats fixed manufacturing costs as a product cost, is required for external financial statements.

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Industry/Domain: Financial services
Category: Accountancy
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Related terms

Absorption Costing

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In cost management, an approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit of production. The fixed costs are usually ...

absorption costing

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