Deliverable Length: 400 - 500 words
Details: As the management accountant, you are responsible for setting costs for your manufacturing company's products, prior to setting the budget for the upcoming year. You meet with your junior accountants to discuss the importance of this whole process and how exactly your team will cost each of these products.
As a result of the meeting, you write a procedure manual that the junior accountants can keep on their desk for future reference.
Create a manual titled Product Costing: Why and How in outline form with the following sections:
Why accurate product costing is important.
How to set establish product costs:
Direct labor content
Direct material content
Overhead content/unit (make specific mention of the importance of picking the correct target volume)
How using contribution margin analysis can make product costing easier.
https://campus.ctuonline.edu/courses/ACC350/p2/hub1/hub.html