Significant for managers to have cost information
Why it is significant for managers to have cost information.
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Business is all about money and in order to run the business productively; managers have to know the cost of running business in order to run it productively. A total cost statement demonstrates the total cost of one cost unit (product direct costs plus the share of indirect costs). A mark up can be added to establish selling price.
Part A: What are some of the impediments to good decision making? Given the availability of copious information, why do good managers still make bad decision? (Schernerhorn et al., 2011, p.73). Explain referring to theory in your answer. (Approximately 1700 words). Part B: Critically reflect on your
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