ANGELYN M.

ABAJENZA NOVEMBER 30, 2021

BSME 3A

ASSEMENT #9

1. Why is it important to apply three elements of cost in our businesses, manufacturing, and
production.

In the world of the economy, we can do everything to become a success. Material,

labor, and overhead are very important to apply in our businesses, manufacturing, and
production. These are the pillars that lead to success. The elements of cost are connected
by each other. When there's something that goes wrong from the start others, will be
affected. When we apply these, we can understand where everything goes and determine
what we should do to avoid problems. Also, we will not have difficulty handling our
businesses, manufacturing, and production. We can manage well, which can lead to
opportunity and success.

2. If you have given a chance to build your own business in order apply the classification of
cost and elements of cost, what is it and why?

If I have given a chance to build a business to apply the classification of cost and
elements of cost, I will choose the manufacturing and production of machines. Nowadays,
we live in this era wherein high technology is in demand. I know building business-related
in manufacturing and production of machines is like you are going in the trail roads. You
don't know what is your journey will be. The only thing is you have a pure heart and strong
soul to be brave and take a risk for the business success. Success and opportunity are
yours if you well-manage your company. Classification of cost and elements of cost is
important when you build your own business because if you consider these, everything
will be alright. These are the key so that you can open the opportunity to become
successful. Through these, you learn a lot of knowledge that you can use to manage your
business. As my business-related in machines, this is very useful. A lot of problems and
difficulties I will be facing in this type of business but, considering this classification and
elements of cost, a big opportunity will come.