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Yes, costs can be classified by function into various categories such as production, marketing, research and development, and administrative costs. This classification helps in analyzing and managing expenses effectively by assigning costs to specific activities within a business.

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1y ago

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Related Questions

How can costs be classified?

start-up costs


Which income statement is classified by function and which one is classified by behavior?

The multi-step income statement is classified by function, and the single-step income statement is classified by behavior.


What manufacturing costs that are assigned to completed but unsold products can classified as?

All manufacturing costs that are assigned to completed (but unsold) products should be classified as


Are sales commissions classified as period costs?

They are classified as a selling cost or nonmanufactoring cost. They are classified as a selling cost or nonmanufactoring cost.


What costs other than direct materials costs and direct labor costs incurred in the manufacturing process are classified as?

Indirect costs(salaries, materials not directly involved in manufacturing), period costs(selling and admin costs)


Property taxes and rent payments would be classified as which types of costs?

Fixed Cost


What is function-based cost management?

Function-based cost management is the budgeting philosophy that the budget controller (in this case the manager) budgets costs based on the function of a department, person, area, etc. Generally, the manager assigns costs according to the importance of the function to that manager.


What is function based cost management?

Function-based cost management is the budgeting philosophy that the budget controller (in this case the manager) budgets costs based on the function of a department, person, area, etc. Generally, the manager assigns costs according to the importance of the function to that manager.


What is the accounting cost function if fixed costs are 50000 and variable costs are 500per unit?

50000 - 500=45000


How are costs with one or more characteristics in common sometimes classified?

When incurred, costs are initially reviewed and accumulated by some classification system. Costs with one or more characteristics in common may be accumulated into cost pools.


What is meant by Charg?

Miscellaneous small or infrequent costs that are not assigned to individual ledger accounts but are classified as a group.


What is functional costing?

Function-based cost management is the budgeting philosophy that the budget controller (in this case the manager) budgets costs based on the function of a department, person, area, etc. Generally, the manager assigns costs according to the importance of the function to that manager.