Does Product Cost Depend On The Reason For Knowing It
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In a meeting among company executives and cost accountants, the CEO asked for the product costs for the company's newest product line. The cost accountant replied, Product cost depends on the reason for knowing it. Do you agree? Explain briefly.
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An explanation of whether product cost depends on the reason for knowing it. The solution is 222 words.
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Product cost is presented in one of two ways, depending on the intended use of the information in managerial decision making. A cost accountant can either produce a report on product cost based on the process or the job order. In a process report the report will provide costing which allows for the estimation of profit for tax reporting and ...
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