Overview of Cost and Management Accounting

Costing - Phase (I & II)

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Abnormal cost is a cost:

Normally incurred at a given level of output

Not normally incurred at a given level of output

Cost chargeable to customer

Cost which is included in the cost of the product.

Explanation:

Abnormal cost are those costs, which are not normally incurred at a given level of output in the condition in which that level of activity is normally attained. They are not considered as a part of cost of production and hence not charged to cost units. They are charged to Costing Profit and Loss Account.

By: Vikas Goyal

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