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Explain concept of operation costing

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Reference no: EM133247271

Question 1. What are cost objects? In the context of manufacturing backpacks, provide one example to explain why a certain cost can be a direct cost of one cost object and an indirect cost of another cost object.

Question 2. What is the relevant range? How does fixed costs and variable costs behave outside the relevant range?

Question 3. Explain the concept of operation costing. Describe the product features and production environments suited to operation costing.

Reference no: EM133247271

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