In order for a business to control costs, it must first identify the costs that can be
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Question:
In order for a business to control costs, it must first identify the costs that can be incurred and the nature of these costs. It is critical that managers are able to identify what causes costs, as well as their nature and behavior. To explore this concept and to tie real world situations to your studies this week, use a past or present work environment to respond in full sentences to the following questions:
- Identify the past or present work environment and summarize the primary services or goods provided by this entity.
- What are the top one to three primary activities that would drive costs for this entity?
- For the activities, please identify a minimum of six costs and evaluate them according to the following terms:
- Fixed, variable or semi-variable in terms of the activities. If semi-variable, identify the fixed and variable elements.
- Direct or indirect in terms of the activities.
- Period or product, in terms of the activities. If product costs, further classify as materials, labor or overhead.
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date: