P. Stevens, B. Kriefman
Abstract
Marginal costing begins to look at costs in a way unfamiliar to many students. When applying marginal costing principles, the overriding objective is to exclude from costing any fixed or unavoidable costs. We must only consider the shortterm changes in total costs which will occur when the level of business activity changes — i.e. the marginal costs.
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Marginal costing begins to look at costs in a way unfamiliar to many students. When applying marginal costing principles, the overriding objective is to exclude from costing any fixed or unavoidable costs. We must only consider the shortterm changes in total costs which will occur when the level of business activity changes — i.e. the marginal costs.
Key concepts: Activity-based costing, Marginal cost, Process costing, Target costing, Total absorption costing, Operations management, Marginal utility, Total cost