Total absorption costing is an approach to dealing with allocation of overhead costs in which all the overhead costs such as rent, rates, premises, head office administration etc., are fully recovered by being incorporated into the costs of products created. This approach contrasts with marginal costing, in which only variable costs are allocated to products. See also Costing, Absorption.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
