WHO IS TAKING A BACK SEAT
The cost
Is a source that sacrificed to achieve a certain objective
The cost could be:
1 - Actual cost
A cost that already has been paid ( historical cost )
2 - Budgeted cost
A cost that is forecasted( not have been paid yet )
Why to calculate it ?
We learn how to calculate cost to serve the cost object WHICH IS anything that we need to measure or calculate it's cost
Hint
Comparing between actual costs and forecasted costs helps managers to evaluate their performance if they did well or not & how the can improve their performance for better results of low costs
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