BATCH COSTING Definition

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BATCH COSTING is the identification and assignment of those costs incurred in completing the manufacture of a specified batch of components. Having arrived at the batch cost, the unit cost is simply derived by dividing it by the number of components in the batch.

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T-BILL see TREASURY BILL.

RECEIPT is a written acknowledgment that a specified article, sum of money, or shipment of merchandise has been received.

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