Cost accounting provides management with a variety of cost classifications that can be used for different decision-making processes. Write your opinion on how management could use each of the following cost classification for decision making: Direct and indirect costs. Fixed, variable, and mixed costs. Period and product costs. Manufacturing and selling costs. Standards and actual costs.

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Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.