Costs are unique and may be customizable to the organization or industry such as described above. Managerial accounting is concerned with providing information to managers within the organization about costs. Managers expect to know what is included in direct materials, direct labor, and manufacturing overhead. They also expect to know what constitutes product costs and variable costs. The costs of production are substantial and it is incumbent on managers to understand what constitutes their costs.
Choose a manufacturer of a product. Research the company’s costs policies and practices to identify what constitutes direct costs of materials, product costs, variable costs, fixed costs, manufacturing costs, non-manufacturing costs, etc. You may have to research multiple sites to find this information – even the company’s full annual report. Tell the ‘cost story’ of your company with use of graphics or other visualizations. Provide sufficient narrative to explain the story of costs at your company. Include graphics or visualizations to support explanation of cost terms (if available).
This report should:
Be prepared as a Microsoft™ Word document and attached to the unit discussion thread.
Be cut and pasted into your response
Explicitly address all required components of this discussion assignment (There is no minimum or maximum in terms of the word count).
Be consistent with the most current APA writing style
Reflect higher level cognitive processing (analysis, synthesis and or evaluation).