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Article: Hayashi Construction, Inc.: a Business Method of Accounting Using Absorption Costing, Including a Method of Drawing a Break-Even Chart Was Admitted as a Patent by the USPTO.
- Article from:
- Business Wire
- Article date:
- June 11, 2008
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SAKATA, Japan -- Hayashi Construction, Inc. was awarded a U.S. patent for an invention entitled "Accounting System for Absorption Costing." Absorption costing is an accounting system generally and widely used in making an external income statement. Representative absorption costing is standard costing under absorption costing. Costing relative to the absorption costing is direct costing.
Finished product (goods sold + stock in inventory) costs comprise manufacturing costs and period costs such as selling, general and administrative expenses (SGA). In absorption costing, manufacturing costs consist of direct costs (variable costs) and indirect manufacturing ...