How can understanding Cost Behavior helps Budget Owners/Dept. Managers in controlling their costs?
A lot of Management/Cost Accounting text books wrote that understanding Cost Behavior helps in controlling costs. But how? As a background, various cost can be classified in different ways, there is according to Cost Behavior. Costs classified according to cost behavior we have the Fixed, Variable Costs and combination of both.
Related Questions
- If an organization does not have a federally approved indirect cost rate; can the organization request indirect costs in the budget submission? If so, what is the limit?
- If an organization does not have a federally approved indirect cost rate; can the organization request indirect costs in the budget submission? If so, what is the limit?
- If an applicant does not have an Indirect Cost Rate Agreement with the government, then what costs cannot be included in their proposed budget?
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- How can understanding Cost Behavior helps Budget Owners/Dept. Managers in controlling their costs?
- Why is understanding cost behavior important?
