Costs Accounting

Costs Accounting

  1. What percentage of costs are variable? How does volume affect variable costs?
  2. What are four major categories of costs?
  3. What are two problems associated with assigning indirect costs to departments?
  4. What are the three methods of cost allocation? What is the best method? Why? (Please make sure you explain your rationale.)
  5. What is the role of strategic planning in the budgeting process? How does it differ from tactical and operation planning?
  6. What is the correlation between planning, budgeting and control?

Solution Preview

Cost accounting enables the capturing of the cost of production within a company through the assessment of the input costs and the fixed cost which includes the depreciation of the capital equipment. This essay presents the compositional studies of cost as…

(479 Words)

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