Classify costs by behavior, element, and function for effective cost management
Allocate and apportion overheads using appropriate bases and calculate absorption rates
Prepare job and contract cost sheets, including treatment of profit and losses
Apply marginal costing techniques to compute contribution, break-even point, and margin of safety
Develop functional and flexible budgets, and use budgetary control for performance evaluation
Calculate and analyze material and labor variances using standard costing principles
