1.It is your opportunity to reflect on and share your past, current and potential future experiences with personal and/or professional budgeting relative to decision-making.

2. As a leader and manager, you could be involved with the manufacturing of products, buying then selling products and/or developing and delivering services. Determining the cost of the manufactured products, products purchased and then sold and/or services delivered is far more complicated than most MBA candidates imagined prior to completing this vital course of managerial and cost accounting.

You might think that determining the cost of products that are then sold (e.g., retail organizations) is simple. However, think back to what you explored about inventory (i.e., products) costing (e.g., First in First Out versus Last in First Out, Weighted Average, plus several other methods). Determining the cost to be reported in the Balance Sheet for Inventory can be complicated with a direct impact on the expense typically called Cost of Goods Sold.

The focus of this discussion is on manufactured products and the development plus delivery of services. There are three types of costs to identify, measure and report. They are direct materials, direct labor and everything else (i.e., overhead). Review your understanding of overhead. Overhead costs are allocated to the products and services.

Discuss how overhead cost allocation has impacted or could have impacted or could be used to impact leaders' and managers' decision making (e.g., which products or services to develop, which projects or people get a bonus or raise or promotion).

Use your professional and personal experience along with what the text and your research to discuss cost allocation. You can also use the professional and personal experience your family, friends, work colleagues and acquaintances relative to the impact of cost allocation. They typically enjoy learning about your continued education plus sharing their understanding and experience with topics you are exploring (e.g., cost allocation).