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Unit 7 - Management Accounting - P1 (A,B) £4.48   Add to cart
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Unit 7 - Management Accounting - P1 (A,B)
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An excellent piece of work which meets the criteria for P1 - Unit 7 Management Accounting. BTEC Level 3 Business. P1 - Explain how an organisation can cost a product and determine its price at any activity level. (More detail on notes section of powerpoint)

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  • May 18, 2017
  • 6
  • 2016/2017
  • Presentation
  • Unknown

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Management Accounting

Task 1 – P1; Explain how an organisation can cost a product
and determine its price at any activity level.
Conor Cunningham

, Introduction to costs
• A cost centre is a department within an organisation that does not directly add to profit but still c
the organisation money to operate. Managers of cost centres including human
resources and research and development (R&D) are responsible for keeping their costs in line or
below budget.


• A profit centre is a branch or division of a company that is accounted for on a standalone basis for
purposes of profit calculation. A profit centre is responsible for generating its own results
and earnings, and as such, its managers generally have decision-making authority related to prod
pricing and operating expenses.


• Non-production overhead costs are the indirect costs of an organisation that are not classified as
manufacturing overhead. They may include administration overheads, selling overheads and
distribution overheads
• Apportionment is the division of income and expenses in certain proportion. For example, over t
or more accounts/departments and is used to separate different incomes and expenditures in
accounting.

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