Assignment Help On-Cost Categorizations

Assignment Help On-Cost Categorizations

Costs can be categorized in the following ways: Actual vs. budgeted cost Full cost vs. direct cost Fixed vs. variable vs. mixed costs Relevant vs. irrelevant costs Product vs. period Direct vs. indirect Discuss the following questions:

Provide an example of each of the cost categorizations above.

Why is it important for a company to know the categorization of each cost?

How can this information be used in decision making?


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