Tag Archives | Cost Classification

Cost Classification by Behaviour | Accounting

In this article we will discuss about the cost classification by behaviour. The categories of classification are: 1. Variable Cost 2. Fixed Cost 3. Semi-Variable or Semi-Fixed Cost. 1. Variable Cost: The variable cost is a cost that tends to vary in accordance with level of activity within the relevant range and within a given […]

Top 7 Advantages of Classifying Cost

This article throws light upon the top seven advantages of classifying cost into fixed and variable cost. The advantages are: 1. Profit Planning 2. Effective Cost Control 3. Fixation of Selling Prices 4. Marginal Costing and Break-Even Analysis 5. Budgetary Control 6. Proper Absorption of Overheads 7. Helpful in Decision-Making. Profit Planning: The Primary objective […]

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