Monitoring the cost accounting at Company X

Company X is a production company and subsidiary of the Company Y. The management of Company X suspects the current costing model does not give a realistic image of their product costs. The underlying problem is a lack of structure in the available data, making it very hard and time-consuming to gain an overview of how the cost accounting of Company X is performing. This report elaborates on how Company X can gain insight into whether the cost accounting for their products is accurate.