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Definition: Absorption Costing is an inventory valuation and costing model that includes ALL manufacturing costs (like direct materials, direct labor, and both variable and fixed manufacturing overhead) in the cost of a unit of product. |
More on financial management: Accounts Receivable Factoring, Cost Driver, Cost Dynamics, Credit Management, Credit Rating, more on financial management... MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program. We keep it short and provide links to high-quality websites where you can learn more about your topic.
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