Cost - The sacrifice made, usually measured by the resources given up, to
achieve a particular purpose.
Cost concepts will be used differently in different situations
Expense - The cost incurred when an asset is used up or sold for the purpose of
Product-Costing System - accumulates the cost incurred in a production process and
assign those costs to the organizations final products.
Manufacturing Costs - Direct material, direct labor, and manufacturing overhead.
While production take place all c
Case Study & Discussions
Jung Wan Lee, Ph.D.
Discussion Topic One:
Case Analysis of
Toyota Motor Corporation
What are strengths and weaknesses of Toyota in