Tag Archives | Cost

Essay on Cost (For Students) | Cost Accounting

Read this essay to learn about:- 1. Meaning of Cost 2. Cost Elements 3. Direct Costs and Indirect Costs 3. Classification. Essay # 1. Meaning of Cost: Cost is the sacrifice of resource to achieve an objective. In relation to production, cost is sacrifice of resource to produce goods. Cost is measured in monetary term. […]

Difference between Fixed Budget and Flexible Budget | Costs

The upcoming discussion will update you about the differences between fixed budget and flexible budget. Difference # 1. Fixed Budget: 1. Costs are not classified according to their variability, i.e., fixed, variable and semi- variable. 2. Fixed budget is inflexible and remains the same irrespective of the volume of business activity. 3. Fixed budget assumes […]

6 Main Components in Direct Material Cost | Cost Accounting

The following points highlight the six main components in direct material cost. The components are: 1. Indirect Taxes 2. Transport, Storage and Delivery Charges 3. Quantity Discounts 4. Trade Discount 5. Cash Discount 6. Packing and Container Charges. Component # 1. Indirect Taxes: The indirect taxes like sales tax, central sales tax, excise duty, customs […]

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