Cost information is important to managers, to help them improve managerial planning, control, and decision making.

Question

Quizplus · Accepted Answer

Cost information provides valuable insights into the financial performance of a company, which helps managers make informed decisions about resource allocation, budgeting, pricing strategies, and other key business activities. Being able to analyze the cost structure of a company can also help with identifying areas where cost reductions can be made, and where efficiencies can be gained. Therefore, cost information is an essential tool for managerial planning, control, and decision making.

Cost Information Is Important to Managers, to Help Them Improve