Cost management

Learning Goal: I’m working on a management discussion question and need an explanation and answer to help me learn.

Iwant two different answers

1. In your own words, define the following concepts and provide sufficient examples for each:

1. Biases:

2. Period costs vs. Product costs:

3. Incremental cash flows:

4. Balanced Scorecard:

5. Cost Accounting:

6. Organizational strategies:

7. Overhead costs:

8. Cost drivers:

9. Relevant range:

10. High-Low Method of Estimating a Cost Function:

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