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Q: What do you understand by the phrase different cost for different purpose?
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What is meant by the phrase different cost figures for different purpose?

they differ over range of costs included current and future costs assumed the frequently product costing information is required


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What is the difference between Standard Cost and Actual Cost?

In standard costing system standard costs for all activities are established for better controlling purpose as well as budgeting purpose so standard cost is that cost which is management expects to occurs if some activity is performed but actual cost is the cost which actually spend to perform specific activity and both costs may be same or different due to many reasons and variance analysis is done to find out the reasons for differences.


How much does a penny cost?

If I understand the question. It cost 2.5 cents to make a penny.


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If I understand the question. It cost 2.5 cents to make a penny.


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What is accounting research?

Accounting research is research that will help accountants understand the meaning of what they do. They could research different cost approaches to get a better idea of what will work best for the organization.