Question

Cost of Goods Manufactured is determined by

(a) Financial Accounting (b) Cost Accounting

(c) Management Accounting (d) Human Resource Accounting​

Answer 1

Answer:

Option (b) is correct.

Explanation:

Cost of Goods Manufactured is determined by Cost Accounting.

Answer 2

The cost of Goods Manufactured is determined by Cost Accounting

Cost Accounting

• Cost Accounting is a practice in which we record, examine, summarize, and study the company’s cost spent on any product service, process, or anything else in the company. This helps the company control the cost and make strategic planning and decision on improving cost efficiency.
• Cost Accounting aids the management gets the idea of where they have to control the cost and where they have to increase more, which helps in creating a vision and future plan.