ACCTG300 Lecture Notes - Lecture 13: Management Accounting, Behaviorism, Cost Driver

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Chapter 2 ma: managerial cost concepts and cost behaviour analysis. Exible format future perspective detailed information quantitative and qualitative information as needed. Managerial accounting managerial accounting is designed to: provide information to internal parties for planning and controlling operations, estimate an organization"s product or service cost. Product or period cost? product costs relate to the items that generate organization revenues - become part of the. Cogs period costs relate to an organization"s selling and administrative functions - are expensed in the period consumed. Direct materials raw materials that become an integral part of the product and that can be conveniently traced directly to it e. g. tires installed on an automobile. Direct labour those labour costs that can be easily traced to individual units of production e. g. wages paid to automobile assembly workers. Cost traceability traceability is the ability to assign a cost to a cost object in an economically feasible way by means of a cause and effect relationship.

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