Question

Advantages of cost accounting in manufacturing industries

Answer 1

Hey mate here your answer


* cost accounting helps the manufacturer to know the cost per unit and fix the selling price.
* By using cost accounting information the manufacturer can take correct decisions to reduce the cost of the product next time manufacturing.
* the manufacturer can fix the price by using cost information.
* cost accounting information is useful to both internal and external parties.
* cost accounting has been using since industrial revolution. so it is the important one in any industry.
* cost accounting can be concerned with cost determination and cost control.
* In cost accounting quantitative aspects is concerned.

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