This preview shows page 1. Sign up to view the full content.
Unformatted text preview: important that the reported costs reflect, to the extent possible, the use of resources by the products. 8-13. There is no rule that the price charged for a product has to exceed its cost. There may be important marketing or strategic reasons why a company wants to be in a particular market. However, to ensure that this is a good decision, the firm should have the best information on cost that it can get. Managing a company by fooling yourself into thinking something costs less than it does is not smart....
View Full Document
- Spring '07
- Cost Accounting