Download or read book Cost Accounting (Speedy Study Guides) written by Speedy Publishing and published by Speedy Publishing LLC. This book was released on 2014-06-17 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost accounting allows managers to compare actual costs to budgeted costs incurred during each stage of the manufacturing or production process. Managers may switch from one supplier of raw materials to another or alter their hourly wages based on the information that cost accounting provides. A chart showing the five different components of cost accounting allows accounting personnel to evaluate which method they want to use to calculate, report, and analyze costs and allows non-accounting personnel to visualize the process.