Question

2. Mention the objectives of cost accounting.​

Answer 1

Answer:

Objectives of cost accounting are ascertainment of cost, fixation of selling price, proper recording and presentation of cost data to management for measuring efficiency and for cost control and cost reduction, ascertaining the profit of each activity, assisting management in decision making and determination of break- ...

Answer 2

Explanation:

1. Fixing Selling Price

Cost accounting allows managers to understand the cost of each product. With the right data of cost accounting, the organization can fix a particular selling price per unit of production. In case an organization deals with a particular service, they can fix the charges for it rightly. 

2. Making a Foundation of Total CostMaking a foundation of cost is the main objective of cost accounting. With the help of a specific foundation of the cost, a company can understand the level of production it can do at a time. Moreover, it can divide the total cost and theoretically fragmentise the capital into different sections of productions like job, process, organization, etc.