Importance of Marginal Costing to Management

Marginal costing is very useful to the managers because of the following reasons:

1. Marginal costing by separating the costs into fixed and variable costs, exercises effective control over it and also facilitates responsibility-oriented control.

2. Marginal costing, by analyzing the cost data, showing the variable cost and contribution for each product and product line, aids the management in taking appropriate decisions.

3. Marginal costing leads to greater accuracies in calculation of profits as the valuation of closing stock of finished goods and work-in-progress are easy and simple.

4. The data presented is more reliable and more acceptable, as it excludes the fixed costs and also avoids allocation and apportionment. Usually the fixed costs are not allocated and apportioned on scientific basis.

5. The cost information presented under marginal costing is simpler, meaningful, and an effective aid to the management in decision-making.

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