Question 54 of 67
Q.What do you understand by codification of overhead?
ChseodishaCHSE Odisha Plus Two (Class 12) Commerce Board 2023Subjective· 2mImportance★★★★★est
81% · 54/67 Questions
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Start your 14-day free trial to unlock the full solution →Codification = giving each overhead a code/number for easy collection and accounting.
Codification of overhead is the technique of allotting symbols — numbers, letters or a combination — to each item or standing order/cost-account number of overhead.
- Purpose: to make recording, collecting and summarising overheads quick, accurate and uniform, and to suit mechanised/computerised accounting.
- Methods include numerical codes, alphabetical codes, decimal codes and mnemonic codes. …
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