Ministry of Higher Education, Science and Innovation Tashkent State University of Economics

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Ministry of Higher Education, Science and Innovation
Tashkent State University of Economics 
“Finance and accounting” faculty 
“Accounting” department 
“Finance and accounting” “Accounting” 
Faculty Department 
Registered № _________ Registered № _________ 
«____» ___________ 2023 y «____» ___________ 2023 y 
COURSE WORK 
Subject “Accounting” 
To the theme: “Product work services actual and standard costing” 
Prepared: _____________________ 
Checked: _____________________ 
Course work is protected by board members: __________________________ 
__________________________ 
__________________________ 
Result of protection: “_______________” “____” ___________. 
Tashkent 2023 

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Content 
Introduction………………………………………………………………………...3 
1. Understanding standard and actual costing..............................………………….5
 
2. Differences standard and actual costing …………………………….................13 
3. Costing in product work services………………..…………………..…………19
4. Limitations and challenges in pproduct work services………..…………….…23
 
Conclusion…………………………………………………………………….…..29 
List of used literature……………………………………………………………...30 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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Introduction 
Actual and standard costing are two primary methods used by businesses to 
keep track of their costs and analyze their profitability. In product work services, 
where the costs of production and delivery are critical to the success of the business, 
the use of these costing methods is particularly crucial.
Actual costing involves the allocation of costs based on the actual resources 
used in the production of a product or service. This means that the costs are recorded 
as they occur, and the overall cost of production is determined by the actual expenses 
incurred.
Standard costing, on the other hand, involves the creation of a predetermined 
set of costs that are used as a benchmark for the actual costs incurred. These costs 
are based on forecasted expenses and are used to estimate what the product or service 
should cost.
Both actual and standard costing have their unique advantages and 
disadvantages. However, they are both essential in product work services to help 
business owners determine the overall profitability of their products or services. 
Understanding these concepts and their application in product work services is 
essential for any business owner looking to improve their bottom line. 
This document will provide a comprehensive analysis of actual and standard 
costing in product work services. It will begin by explaining the concept of actual 
and standard costing and why they are essential in product work services. The 
document will then explore the role of cost drivers in standard costing and the 
benefits of standard costing in service industries.
The next section will focus on actual costing, defining it and explaining how 
it works in product work services. The relationship between actual costing and 

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standard costing will be explored, and the advantages and disadvantages of actual 
costing will be discussed.
The document will then compare and contrast standard costing and actual 
costing, discussing the circumstances in which each cost method is most appropriate. 
It will explore the challenges of reconciling standard costing with actual costing.
The following section will shift to looking specifically at costing in product 
work services. It will analyze different approaches to costing in product work 
services, including job costing, process costing, and activity-based costing. The 
challenges faced in costing product work services will also be explored. 
Finally, the document will analyze the limitations and challenges of costing 
in product work services. It will provide real-world examples of how actual and 
standard costing have been applied in product work services, the results of these case 
studies, and insights into how they can inform future costing strategies. The 
document will also conclude by summarizing the key points and reiterating the 
importance of actual and standard costing in product work services. 

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