Loose Leaf For Managerial Accounting for Managers
Loose Leaf For Managerial Accounting for Managers
6th Edition
ISBN: 9781264445394
Author: Noreen, Eric, BREWER, Peter, Garrison, Ray
Publisher: McGraw Hill
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Chapter 1, Problem 1.17E
To determine

Introduction:

Importance of cost classification: Cost accounting is a vast subject and in that cost, classification plays a major role. Until and unless the costs are classified properly, its accounting will not be accurate. So, it is a very important process in cost accounting. It is important for managers as it helps in decision-making and controls departmental costs for efficient management.

To classify: The costs based on their cost behavior and applicability for preparing financial statements.

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