E ISSN: 2583-049X

International Journal of Advanced Multidisciplinary Research and Studies

Volume 4, Issue 2, 2024

Determining Product Cost for Cost Management

Author(s): Tran Thi Du


Cost management in businesses plays an important role. Costs affect a business's profits. In manufacturing enterprises, determining product costs will affect the decision-making of managers in determining selling prices, deciding on production and choosing business plans. This article presents the total costing method including theory, current situation and solutions to perfect the total costing method to provide information for managers to make decisions. In theory, the article presents the content, advantages and disadvantages of the total cost method. Regarding the current situation, the article presents the current situation of applying pricing methods and the current situation of applying total costing methods in manufacturing enterprises. At the same time, the article offers a solution to perfect the overall cost calculation method suitable for animal feed processing enterprises in Vietnam.

Keywords: Product Costs, Total Cost, Cost Allocation Criteria, Corporate Governance, General Production Cost Allocation

Pages: 685-687

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