Abstract
The earliest costing systems were devised for the purpose of ascertaining costs of products and services. The prevailing idea was that selling prices must exceed total costs to ensure profitability, and so it was natural that the total cost of each product or type of service having a separate selling price should be determined. This was particularly important in job order work where quoted prices had to cover all costs as well as provide profit.
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© 1976 Ernest Laidler
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Laidler, E. (1976). Absorption Costing. In: Variance Accounting. Institute of Cost and Management Accountants. Palgrave, London. https://doi.org/10.1007/978-1-349-15687-0_9
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DOI: https://doi.org/10.1007/978-1-349-15687-0_9
Publisher Name: Palgrave, London
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