#1 One Shot Revision 🎯 | Process, Standard & Marginal Cost | TYBCOM Cost Accounting | Siraj Shaikh

1. Process Costing Process costing is a cost accounting method used when production is continuous, and products pass through multiple processes or stages before completion. It is commonly used in industries like chemicals, textiles, and food processing. Costs are assigned to each process, and the final cost per unit is determined by dividing total process costs by the number of units produced. 2. Standard Costing Standard costing is a technique where predetermined costs (standard costs) are set for materials, labor, and overheads. These costs are then compared with actual costs to determine variances, helping businesses control expenses and improve efficiency. Variance analysis helps in identifying cost deviations and taking corrective actions. 3. Marginal Costing Marginal costing focuses on variable costs and how they impact decision-making. It helps in analyzing the contribution margin, break-even point, and profitability. Marginal costing is useful for short-term business decisions like pricing, product mix, and make-or-buy decisions, as it considers only variable costs while treating fixed costs as period costs. i just hope you all must have liked the video, so do comment your view and do like and share the channel if you all feel worth sharing the channel. Don’t forget to subscribe our channel    / sam4sir      / channel   Must check playlist for all other videos. ❣️ Like, share or subscribe karna mat bhulna..!!! For notes and important questions join our telegram channel : Telegram : skyeducationofficial (in case of link failure just search by name) https://t.me/skyeducationofficial https://t.me/sirajshaikhdegreestudy Connect with me on all other social media networks Facebook : siraj shaikh Instagram : sam4sir00 Twitter : sirajsam4sir Snapchat : sam4sir (siraj shaikh) Telegram : sam4sir00