Conclusion

If any organization wants to run a manufacturing company successfully then the management needs to take proper decision on time. . Most decisions will at some stage involve consideration of financial matters, particularly cost. Decisions may also have an impact on the working conditions and employment prospects of employees of the organization, so that cost considerations may, in the final analysis, be weighed against social issues. If the management can control the cost then the company will generate more profit, on the other way they will suffer loss. So, by going through this project we can easily understand how different types of cost play role in decision-making and we can apply these terms in practical life.

Sources:
                      1. Managerial Accounting
                               Ray H. Garrison
                               Eric W. Noreen

                      2. Introduction to Management Accounting
                               Professor Pauline Weetman
                               Paul Gordon

                      3. Class lecture