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Relevant cost is that cost which is required for the specific decision making process or the cost which will be change due to specific decision while irrelevant cost has no concern with decision making or any specific decision.

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10y ago

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Related Questions

What is the distinction between relevant cost and irrelevant cost?

Relevant cost is that cost which is necessary for the underlying decision in decision making process while irrelevant cost is not necessary to be decision to be made.


Is variable cost a relevant cost?

No. If a variable cost does not differ between alternatives than it is irrelevant.


Is direct labor cost a relevant cost?

If direct labor cost creates impact or influences the decision then it is relevant cost but if direct labor is not creating influence or changing in decision then it is irrelevant cost for example direct labor cost remain same irrespective of whatever the decision then direct labor cost is also irrelevant.


Variable costs are irrelevant whenever they do not differ among the alternatives at hand. do you agree?

Any cost whether variable cost or fixed cost is irrelevant if not different between alternatives at hand.


What are the differences between relevant cost and irrelevant cost?

In decision making process those cost which are effected from the decision under consideration those costs are called relevent costs and those costs which have no impact on decision making of specific project are called irrelevent costs.


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What is the difference between differential cost and incremental cost?

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