Why Costing is required in every organization

Question

Accepted Answer

Costing is required in every organization to determine the profitability of products or services and make informed business decisions.

Costing helps in determining the actual cost of producing goods or delivering services.
It helps in setting competitive prices for products or services.
Costing enables organizations to identify cost-saving opportunities and improve efficiency.
It assists in budgeting and financial planning.
Costing provides insights into the profitability of different products or services.
It helps in evaluating the performance of various departments or business units.
Costing is essential for decision-making, such as whether to outsource or produce in-house.
It aids in assessing the impact of changes in production volume or pricing.
Costing supports strategic planning and forecasting.
It helps in complying with financial reporting requirements and regulations.

Accepted Answer

It is the expenses and material cost

Accepted Answer

To arrive BEP and basing on that Company will decide to continue  project or exit

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