average costing — noun (business) A method of calculating the average cost of producing one unit by taking the total manufacturing costs for a period and dividing by the number of units produced • • • Main Entry: ↑average … Useful english dictionary
average costing — A method of obtaining unit costs sometimes used when the items produced have a high degree of homogeneity. The unit cost is obtained by dividing the total production cost by the number of items produced. See also: continuous operation costing,… … Accounting dictionary
average cost — 1) The average cost per unit of output calculated by dividing the total costs, both fixed costs and variable costs, by the total units of output. 2) (AVCO; weighted average cost) A method of valuing units of raw material or finished goods issued… … Accounting dictionary
average cost — The average cost per unit of output calculated by dividing the total costs, both fixed costs and variable costs, by the total units of output. (AVCO; weighted average cost) A method of valuing units of raw material or finished goods issued from… … Big dictionary of business and management
Average-Cost Method — A costing method by which the value of a pool of assets or expenses is assumed to be equal to the average cost of the assets or expenses in the pool. For example, if one share of Company A s stock is purchased on June 1 for $50.00, again on June… … Investment dictionary
process costing — A costing system sometimes applied to production carried out by a series of chemical or operational stages or processes. Its characteristics are that costs are accumulated for the whole production process and that average unit costs of production … Accounting dictionary
continuous-operation costing — A system of costing applied to industries in which the method of production is in continuous operation; examples include electricity generation and bottling. Because the product is homogeneous, this costing system is essentially a form of average … Accounting dictionary
continuous-operation costing — A system of costing applied to industries in which the method of production is continuous processing; examples include electricity generation and bottling. Because the product is homogeneous, this costing system is essentially a form of average… … Big dictionary of business and management
process costing — A costing system sometimes applied to production carried out by a series of chemical or operational stages or processes. Its characteristics are that costs are accumulated for the whole production process and that average unit costs of production … Big dictionary of business and management
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 … Wikipedia
