Question

In 200 words or more, How might each of the costing methods be used in managerial decision-making? Original work please.

Answer 1

for example

Relevant cost analysis helps in drawing the attention of managers to those elements of costs which are relevant for the decision.

Marginal costing helps managers in product mix decisions, make or buy decision, manufacturing or sub-contracting decision, shut down or continue decision, pricing decision etc

Budgetory control helps the management in controlling the expenses in identifying the variances similarly standard costing helps managers establishing the standards for various expenses.