An accounting method that estimates production or service costs by using an approximate price times the number of inputs used to complete the output, instead of calculating each cost individually. For example, an accountant can multiply the number of man-hours needed to finish a set of bed frames times the average wage per worker.
Related information about extended normal costing:
- Extended Normal Costing Definition | Investopedia
In managerial accounting, a method of tracking production costs based on an approximation of the prices of the inputs multiplied by the actual quantity of inputs ...
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Costing method that assigns direct costs to cost objects using budgeted rates and actual quantities of inputs.
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Comment Letter · Institute of Chartered Accountants in Ireland · chartered accountant · comptroller · unrecorded revenue · extended normal costing · post- closing ...
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... duration · cost estimate · more or less · EBIDTA · EBITDA · Earnings Before Interest, Taxes, Depreciation, Amortization and Rent · extended normal costing ...
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extended normal costing · external audit · extraordinary item · extraordinary positive value · factor · factor return · factoring · factory orders · fair rate of return · FAS ...
- Glossary
Budgeted costing See extended normal costing. .... Extended normal costing A costing method that traces direct costs to a cost object by using the budgeted ...