Which of the following methods of measuring costs associated with production is more widely used in practice?
A)normal costing
B)actual costing
C)authentic costing
D)ordinary costing

Question

Quizplus · Accepted Answer

Normal costing is more widely used in practice as it combines actual direct costs with estimated (or budgeted) indirect costs to calculate the total cost of production. This allows for a more accurate reflection of production costs compared to actual costing, which only considers actual direct costs incurred. Authentic costing and ordinary costing are not commonly used methods of measuring costs associated with production.

Which of the Following Methods of Measuring Costs Associated with Production