I need a summary of each

In the first article,A three-way cost classification mode for understanding the supply side of the firm,talks about the effects of teaching different levels of students cost accounting requires more explanation. The cost accounting deals with the supply chain side in a three-way cost. In the three-way cost methodology, this offers students the abilities to apply conceptual and practical accounting information in an organized context. The three-way cost explanation model was aimed to help all students understand supply chain in a business. There are three things that the three-way cost model incorporates: costs and functions, costs and relevance, and costs by behaviors (Gean & Gean, 2016). Costs and functions concepts can be thought of as understanding the functions and not the costs that does not pertain to production. In costs and relevance, the opportunity cost is real with the economic cost that deals with decision making in managerial accounting (Gean & Gean, 2016). Management can make decisions that can affect costs in costs and relevance. When items are in production, exporting, importing, labor to make the parts, and purchasing parts can be examples of what management decides in relevance. This method can help students understand how analyze management problems in real time. In costs and behaviors deals with cost volume profit analysis. Cost volume profit analysis is when organizations govern their changes in expenses and how volume sales are tied with the business' profits. Cost volume profit can be fixed meaning that the costs does not change while the volume activity changes (Kenton, 2021).

In article two, Investments for new product development: A break-even time analysis,talks about the New Product Investment Curve, and how businesses can avoid the pitfalls in the markets. Park mentions the business world as the "Valley of Death" because of the negative cash flow when a product is being put out ad the payback period (Park et al., 2016). Businesses must take the extra step to ensure they understand how their business is really doing. The article has many examples, but businesses cannot be satisfied on how they use to run things because the business world is always evolving. Business must be prepared for the future of their company and have models to compare and contrast their past methods to be prepared. These models can help look at the break-even analysis because the business must at least not lose more profits than necessary. This analysis can show the project, modifications, and show the unknown (Gallo, 2014).

References:

Gallo, A. (2014, November 02). A quick guide to breakeven analysis. Retrieved April 05, 2021, fromhttps://hbr.org/2014/07/a-quick-guide-to-breakeven-analysis

Gean, Farrell; Gean, Virginia. (2016). A Three-Way Cost Classification Model for Understanding: The Supply Side OF the Firm. Journal of Business and Educational Leadership; San Diego Vol. 6, Iss. 1: pg. 37-48.

Kenton, W. (2021, March 31). Cost-volume-profit (cvp) analysis definition. Retrieved April 05, 2021, fromhttps://www.investopedia.com/terms/c/cost-volume-profit-analysis.asp

Park, W. K., Lee, K. S., Doo, S. Y., & Yoon, S.-S. (2016). Investments for new product development: a break-even time analysis. Engineering Management Journal, 28(3), 158-167. Doi. 10.1080/10429247.2016.1199747.