MHR costing is a method of costing that assigns costs based on the actual resources used by a product or service. MHR costing stands for Machine Hour Rate costing, where costs are allocated based on machine hours used. It is useful in industries where machine usage is a significant factor in determining costs, such as manufacturing. MHR costing helps in accurately determining the cost of production for each unit based on machine usage. It can also help in identifying inefficiencies in machine usage and optimizing production processes. Example: In a manufacturing plant, MHR costing can help in determining the cost of producing each unit based on the machine hours used for production.

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USE of MHR costing

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MHR costing is a method of costing that assigns costs based on the actual resources used by a product or service.

MHR costing stands for Machine Hour Rate costing, where costs are allocated based on ma...read more

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USE of MHR costing

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