Product costing systems, Which costs should be included in

Product costing systems

Reference no: EM13738714

Product costing systems

Unfortunately, the myriad approaches to product costing and choices available can inhibit a systematic design approach. In selecting a product cost system, a firm needs to answer four key questions:

1. Which costs should be included in product cost?

2. At what level of detail should we track direct product costs?

3. How do we organize indirect product costs?

4. How do we allocate indirect costs to products?

Reference no: EM13738714

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