Question

• Understanding the cost structure and how costs work, what are some key points to use as a manager?
• Create a checklist or plan a manager could use to better analyze how the costs of the company are being managed.
• The reflection should be roughly one page in length.

Answer 1

Answers while The key components to use as a manager analyzing cost includes: cost bifurcation into fired and verriable cost Break - even point. Areas in cost streeture, which has potential of saving. y understanding relationship with revenue Cost trending compared to past .data. t plan to better ancelyze. the cost are: of take up call the cost involved in the company process. yo Bifurcate the cost into different sub-heads lille. Operating expense variable coste Contract coorkers, material cast, Ittikties etc fined cost : Rent, machinery, permanent staff ete. + O in clude the intangible cost form of labour hour of employees, energy spent, Disk factor, · Opportunity cost.

list the benfits interms of income, Business revenue, ease of operation etc, Do the cost benfit analysis: It requires weighing both cost and revenue y finding the break. even Opportunity * chaoting the cost trend to find areas of oppnoteentty for cost saving,