Please Help: Costing
Posted Date : 02-Jul-2012 , 03:11:05 pm | Posted By: Naveen
Category :
Accounts | Answers :
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what is the difference between marginal costing and standard costing and budgetry control? |
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Answers:
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 Answer by: Vikash Kumar Jha |
| Marginal costing is a theory which recoganises the difference between variable and fixed cost. While standard costing refers the preparation and use of standard cost that is predetermind cost and budgetary control establishment of budgets
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| Answer by: Krishna Chandra Santi |
| Marginal costing involves ascertainment of total cost, and fixed and variable cost for decision making.
Standard costing involves in setting up of standards, ascertainment of actual cost, determination of variances, investigation of variances and taking appropriate decision.
Budgetary control is nothing but the establishment of budgets relating to the policy. Budgeting is drawing up a plan or a scheme in respect of each class of activity, in physical as well as monetary terms for the full budget period.
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