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.

Q: How to deal with cost accounting

A: Cost accounting refers to the accounting which dealt with the aggregate cost of production of…

Q: 1.An activity that has a direct cause-effect relationship with the resources consumed is a(n) Group…

A: In activity based costing the cost are apportioned based on the respective cost drivers

Q: Standard costing improves the control functions” discuss this statement give some examples.

A: Standard Costing: It is the accounting system in which standard cost is measured with actual cost to…

Q: the examples of

A: Answer

Q: ost, sunk costs or opportunity costs. Keep in mind that one cost can be fall into different…

A: 1) Predicting cost behavior cost classifications Every company incurred the costs in order to…

Q: Define standard costs and briefly indicate how they may beused by management in planning and…

A: Standard costs: Standard costs are the per-unit cost that is expected to be incurred under normal…

Q: The following statements are correct excerpt? A. Different costs are used for different purposes B.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: What is standard cost ? Explain four purposes of standard costing.    NB: This concept should be in…

A: Solution:- Standard cost means as follows under:-

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.