Managerial Accounting: Tools for Business Decision-Making,
Canadian 5th Edition, Weygandt, Kimmel, Kieso, Aly, Wiley Publishing with WileyPlus Access.

Chapter 2: Managerial Cost Concepts and Cost Behaviour Analysis

Learning Objectives
Define the three classes of manufacturing costs and differentiate between product costs and period costs.
Explain variable, fixed, and mixed costs and the relevant range.
Apply the high-low method to determine the components of mixed costs.
Demonstrate how to calculate the cost of goods manufactured and prepare financial statements for a manufacturer.

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