Explain excel costing process like Net RM cost calculation,Conversion cost calaculation, OH etc

Question

Accepted Answer

Excel costing process involves calculating net RM cost, conversion cost, and overheads.

Net RM cost calculation involves determining the cost of raw materials used in production.
Conversion cost calculation involves determining the cost of converting raw materials into finished products.
Overhead costs include indirect expenses such as rent, utilities, and salaries.
Excel can be used to create formulas and templates to automate the costing process.
Costing analysis can help identify areas for cost reduction and improve profitability.