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MRP glossary TOP > Cost Control > Total Class Costing

Total Class Costing

It is a cost calculation used by the companies which are producing different kinds of products in a continuous manner like casting manufacturers and electric equipment manufacturers. In Total Class Costing, the total manufacturing cost of cost accounting period is divided into group direct cost and group indirect cost in advance, and the group direct cost is directly imposed on the manufacturing order of each group while the group indirect cost is allocated to each group according to a certain basis.

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Related term: Total Costing

Reference:JIT Business Research Mr. Hirano Hiroyuki

Standard Cost Accounting | Cost Control | Total Costing