(a) By time when computed
historic costs
standard costs
(b) By financial costing
Revenue costs
capital costs
(c) By responsibility
controllable costs
uncontrollable costs
(d) By identification with stock
product costs
period costs
(e) By tracing costs to end products
direct costs
indirect costs
Cost classification by nature refers to categorizing costs based on the type of resources consumed, such as labor, raw materials, or utilities. This classification helps businesses understand the composition of their expenses and make informed decisions on cost management and resource allocation.
the disadvantages of cost classification
the disadvantages of cost classification
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Classification of costs
classification by type data?
The importance of cost classification to a business should not be underestimated. Cost classification is important because it makes it easier to gather the methods used for accumulating cost data. It also maintains effective supervision in a company.
Identify the class IV cavity classification
Classification of cost is where expenses are divided into categories that include variable costs, fixed costs, material costs. These costs relate to business activities.
what are the various classification of cost accounting?
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what are the various classification of cost accounting?