A Change in Estimate Should Be Recorded __________

question 52

Short Answer

A change in estimate should be recorded __________.

Understand the nature and behavior of fixed and variable costs, and their relationship to production volume.

Distinguish between direct and indirect costs, and their impact on product costing and pricing.

Comprehend the principles of customer orientation and its effect on production systems.

Grasp the importance and implementation of the balanced scorecard approach.