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Explain the process of cost allocation

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Question - How do managers use accounting information to create value in organizations? How is cost-accounting information used in decision making and performance evaluation?  What is meant by the term "cost".  What is cost allocation? Explain the process of cost allocation, in detail. How are material, labor, and overhead costs added to a product?  Explain basic cost behaviors, including fixed, variable, semi-variable, and step costs.  Discuss cost-volume-profit analysis.  How is it used to analyze decisions? What are the assumptions and limitations of CVP analysis and why are they important?

Reference no: EM132878927

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