Meaning of BOM, use of BOM ,role of cost accountant in industry ,marginal costing

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Explanation of BOM, its use, role of cost accountant in industry, and marginal costing.

BOM stands for Bill of Materials, which is a list of all the raw materials, components, and sub-assemblies required to manufacture a product.
It helps in determining the cost of production and managing inventory levels.
Cost accountants play a crucial role in analyzing and controlling costs in the manufacturing process.
Marginal costing is a technique used to determine the cost of producing an additional unit of a product.
It helps in decision-making related to pricing and production volume.
Cost accountants use marginal costing to analyze the impact of changes in production volume on costs and profits.