(Answered) This assignment has 3 partscosts can be categorized in the

Management Studies

This assignment has 3 parts:

Costs can be categorized in the following ways:

Actual vs. budgeted cost

Full cost vs. direct cost

Fixed vs. variable vs. mixed costs

Relevant vs. irrelevant costs

Product vs. period

Direct vs. indirect

Discuss 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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Operation Management, Management Studies

Category:- Operation Management
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