PLEASE ANSWER ALL   4. A cost management system will provide the means to develop a. The most accurate product or service costs. b. A reasonably accurate product or service costs given cost-benefit analysis. c. A product or service costs that does not include any non-value added overhead. d. A costing system that traces all costs directly to individual products or services. 5. The cost generated by the cost management system are used to a. Assess product / service profitability. b. Establish price for products with significant competition. c. Determine underlying reasons for variations from standards. d. All statements in the choices.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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PLEASE ANSWER ALL

 

4. A cost management system will provide the means to develop
a. The most accurate product or service costs.
b. A reasonably accurate product or service costs given cost-benefit analysis.
c. A product or service costs that does not include any non-value added overhead.
d. A costing system that traces all costs directly to individual products or services.

5. The cost generated by the cost management system are used to
a. Assess product / service profitability.
b. Establish price for products with significant competition.
c. Determine underlying reasons for variations from standards.
d. All statements in the choices.

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