full costing method


full costing method
= full costs
A method of costing a product or service that charges all the costs of an organization, both direct costs and overheads, to the cost unit. The full costing method usually takes the absorption approach to the costing of products and services.

Accounting dictionary. 2014.

Look at other dictionaries:

  • Full Costing — A managerial accounting method that describes when all fixed and variable costs, including manufacturing costs, are used to compute the total cost per unit. Full costing includes these costs when computing the amount of money it takes to produce… …   Investment dictionary

  • full costs — full costing method …   Accounting dictionary

  • marginal costing — direct costing; = variable costing A costing and decision making technique that charges only the marginal costs to the cost units and treats the fixed costs as a lump sum to be deducted from the total contribution, in obtaining the profit or loss …   Accounting dictionary

  • absorption costing — ➔ costing * * * absorption costing UK US noun [U] (also full costing) ► ACCOUNTING a method of calculating the cost of a product where all fixed costs (= costs that are the same each month) are included → Compare MARGINAL COSTIN …   Financial and business terms

  • absorption costing — full absorption costing; = total absorption costing The cost accounting system in which the overheads of an organization are charged to the production by means of the process of absorption. Costs are first apportioned to cost centres, where they… …   Accounting dictionary

  • absorption costing — full absorption costing; total absorption costing The cost accounting system in which the overheads of an organization are charged to the production by means of the process of absorption Costs are first apportioned to cost centres, where they are …   Big dictionary of business and management

  • Total absorption costing — (TAC) is a method of Accounting cost which entails the full cost of manufacturing or providing a service. This includes not just the costs of materials and labour, but also of all manufacturing overheads (whether ‘fixed’ or… …   Wikipedia

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  • accounting — /euh kown ting/, n. 1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.… …   Universalium

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