Companies using contract costing?

It is old costing technique & it is replaced by activity based costing

It is when a company set out how much they will put aside for contractors when working out expenses for a job.

i dont know, why u askin me?

ADVANTAGE OF VARIABLE COSTING 1. Inventory changes do not affect profit. 2. Phantom profits are ignored. - Profit resulting from inventory buildup, not sales, is ignored. - When absorption method...

The construction industry uses job costing which includes also typically includes job estimating and cost variance analysis. The same principles are applied to manufacturing of custom products.