Assignment Instructions/ Description
This assignment has 3 parts:Costs can be categorized in the following ways:
Actual vs. budgeted costFull cost vs. direct costFixed vs. variable vs. mixed costsRelevant vs. irrelevant costsProduct vs. periodDirect vs. indirectDiscuss the following questions:
Why is it important for a company to know the categorization of each cost? How can this information be used in decision making?Provide an example of each of the cost categorizations above.
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