Evaluate this using the principles of management and cost accounting.

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: Describe the qualities and aims of cost accounting, as well as the purpose and significance of a…

A: The Definition of Cost AccountingCA is a field of accounting that focuses on cost and derives all…

Q: Briefly explain how product costs are viewed on a flow-of-activity basis.

A: Product costs on a flow-of-activity basis involve looking at the costs associated with the…

Q: Define the term process-costing system.

A:

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.