Tag Archives | Costs

Classification of Cost

Everything you need to know about the classification and types of cost. Cost classification is the process of grouping costs according to their common characteristics. It is the placement of like items together according to their common characteristics. A suitable classification of costs is of vital importance in order to identify the cost with cost centres or cost units. Cost [...]

By |2019-07-29T11:38:02+00:00July 29, 2019|Classification of Cost|Comments Off on Classification of Cost

Examples of Overhead Costs: Top 11 Examples | Cost Accounting

Examples of Overhead Costs: 1. Manufacturing Overhead 2. Administration Overhead 3. Selling and Marketing Overhead Costs 4. Distribution Overheads 5. Research and Development Costs 6. Fixed Overhead Costs 7. Variable Overhead 8. Semi-Variable Overhead Costs 9. Indirect Materials Cost 10. Indirect Labour Cost 11. Indirect Expenses. 1. Manufacturing Overhead: This is the total of indirect costs in production function of [...]

By |2018-06-18T11:02:01+00:00June 18, 2018|Overhead Costs|Comments Off on Examples of Overhead Costs: Top 11 Examples | Cost Accounting

Cost Codification: Objectives and Methods | Cost Accounting

In this article we will discuss about:- 1. Objectives of Cost Codification 2. Requirements of Efficient Coding System 3. Methods. CIMA defines a coding "a system of symbols designed to be applied to a classified set of items, to give a brief accurate reference facilitating entry, collation and analysis". Codification of costs is a system of assigning code numbers to [...]

By |2016-12-12T08:06:18+00:00December 12, 2016|Cost Codification|Comments Off on Cost Codification: Objectives and Methods | Cost Accounting
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