Product Costing and Your Budget

Budgeting helps organizations assess the costs of making and selling their products or services. The ultimate goal is to make a profit, but to make a profit, you must know how much to charge your customers for your products or services. This course is part of the Managing Budgets series, a series designed to help organizations prepare and manage their budgets. In this course, you’ll learn the importance of accurate product pricing, how financial and management accounting relate to the product costing system, and how specific production elements fit into the product costing equation. At the end of this course, you’ll be able to apply what you’ve learned to improve the way your organization determines how much to charge your customers.