1 2 Different Costing Methods A Number Of Costing Methods Are Used By Various Types 2926881

1.2 Different costing methods: A number of costing methods are used by various types of organisations and the industries, in order to ascertain the cost of the products. However, Meeks and Swann (2009) acknowledged that the method to be considered by the business entities depends on the nature of production and the type of output. Different costing methods could be categorised as follows: Job-order costing: According to Bedford et al. (2008), the job order costing method is concerned with the findings about the costs associated with each job or work order. The method is often used by the customer oriented firms like the service organisation as well as the industry.

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