A very key concept in managerial accounting is how costs "behave", either fixed or variable. Once we understand this basic concept we begin to use the cost structure to do some planning. We will discuss how the two costs vary in relationship to changes in activity.

Q: Cost accounting provides management with a variety of cost classifications that can be used for…

A: The concept underlying the above question revolves around the importance of cost classifications in…

Q: The definition of the cost is the collection of cost data in some organized way by means of an…

A: Cost is amount of cost incurred

Q: Cost accounting is an accounting process that measures all of the costs associated with production,…

A: Cost accounting is the process of calculating a company's total cost of production by considering…

Q: For what decisions is the manager of a cost center not responsible?

A: Responsibility of Cost Centre Manager The main responsibility of the cost center managers to…

Q: Discuss the role of cost accounting in managerial decision-making, including cost classification,…

A: The category of accounting known as "cost accounting" is responsible for gathering, analysing, and…

Q: how Cost Managemnt decision-making plays a role in the decision-making and success of the company?

A: Cost management decision-making is a critical aspect of any business. It involves the process of…

Q: Describe the concept of management by exception and explain how standard costs help managers apply…

A:

Q: w product cost information is use

A: Product Cost: Product costs are costs that are incurred to make a product that's intended available…

Q: What is time-driven activity based management (TDABC)

A: TDABC stands for time-driven activity-based costing. It is a costing method based on activity and…

Q: Discuss two potential application of the activity based costing system in decision-making, to the…

A: Activity based costing method helps in allocating overhead cost of products based on different…