Costing in educational institutions is a crucial aspect of institutional management as it allows administrators to allocate resources efficiently, plan budgets, and evaluate the economic viability of various programs. Different methods of costing are applied depending on the type of institution, the nature of expenses, and the objectives of financial management. The primary methods of costing used in educational institutions include historical costing, standard costing, activity-based costing, marginal costing, and unit costing. Historical costing is one of the simplest methods, where the actual expenses incurred during a particular period are recorded and analyzed. In educational institutions, this could involve calculating the total expenditure on staff salaries, infrastructure maintenance, library resources, and student services for the previous year. For example, a school may analyze the total cost of running its computer lab for the last academic session by aggregating salaries of lab assistants, electricity bills, software subscriptions, and maintenance costs. Historical costing helps in understanding past financial patterns but may not always aid in future planning since costs can fluctuate. Standard