Meaning absorption costing
What does absorption costing mean? Here you find 5 meanings of the word absorption costing. You can also add a definition of absorption costing yourself
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absorption costingIn cost management, an approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit of production. The fixed costs are usually allocated to units of o [..]
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absorption costingCosting system wherein fixed manufacturing overhead is allocated to (or absorbed by) products being manufactured. This system, which treats fixed manufacturing costs as a product cost, is required for [..]
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absorption costingDefinition Generally, when normal manufacturing costs are considered product costs and included in inventory. Also known as full costing.
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absorption costingAn approach to product costing that assigns a representative portion of all types of manufacturing costs--direct materials, direct labor, variable factory overhead, and fixed factory overhead--to indi [..]
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absorption costingAbsorption costing is an accounting practice in which fixed and variable costs of production are absorbed by different cost centers. It is a managerial accounting cost method of expensing all costs as [..]
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