For continuous and process type of industries
- The continuous or process type of industries are characterised by the continuous production of uniform products according to standard specifications. In such a case the successive lots are generally indistinguishable as to size and form and, even if there is some variation in specifications, it is of a minor character.
- Examples of continuous type of industries are chemical and pharmaceutical products, paper/food products, canning, paints and varnish oil, rubber, textile etc. Here the methods of costing used for the purpose of ascertaining costs are: process costing; single out- put costing; operating costing etc.
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