New NABARD Workshop - Last 4 year trend. March 5 at 5 PM. Register here

    Question

    Unit Costing is applicable

    where:
    A Product produced are unique and no 2 products are same Correct Answer Incorrect Answer
    B Dissimilar articles are produced as per customer specification Correct Answer Incorrect Answer
    C homogeneous articles are produced on large scale Correct Answer Incorrect Answer
    D Products made require different raw materials Correct Answer Incorrect Answer
    E All of the above Correct Answer Incorrect Answer

    Solution

    Unit costing is a costing method applicable when homogeneous articles (items that are identical or very similar) are produced on a large scale. This method calculates the cost per unit of production by dividing the total cost of production by the total number of units produced. It is commonly used in industries where mass production of standardized products occurs.

    Practice Next