Interview Question

Assistant Manager Finance Interview

-Islamabad, Islamabad

Pakistan Tobacco Company

What is standard costing?

AnswerAdd Tags

Interview Answers

3 Answers


Standard costing is an accounting system used by some manufacturers to identify the differences or variances between: The actual costs of the goods that were produced, and. The costs that should have occurred for the actual goods produced

Wajid ullah on


Deferred tax liability is a tax that is assessed or is due for the current period but has not yet been paid. ... A deferred tax liability records the fact the company will, in the future, pay more income tax because of a transaction that took place during the current period, such as an installment sale receivable.

Wajid ullah on


Absorption costing, sometimes called full absorption costing, is a managerial accounting method for capturing all costs associated with manufacturing a particular product. The direct and indirect costs, such as direct materials, direct labor, rent, and insurance, are accounted for using this method. Absorption costing is required by generally accepted accounting principles (GAAP) for external reporting.

Anonymous on

Add Answers or Comments

To comment on this, Sign In or Sign Up.