The method, which considers the cost and cost drivers of departments such as employee relations and process engineering is termed as __________?
Correct answer: A. conference method
- A. conference method
- B. manufacturing method
- C. pricing method
- D. inference method
Explanation
The conference method estimates costs through informed judgments and discussions with managers familiar with departmental costs and their cost drivers. Employee relations and process engineering are examples of departments whose costs may be estimated this way.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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