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what are types of cost? categorise these cost specially
those which are relates to financial managment. and which
cost should be consider during management.
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Answer Posted / h.r. sreepada bhagi
Cost is not a narrow concept. From Cost Accounting costs can
be classified as below :
1. From the view point of relating it to operations:
a) Direct Costs
b) Indirect Costs
2. From the view point of period / product (service:
a) Variable Cost (Product Cost)
b) Fixed Cost (Period Cost)
3. From the view point of control-ability:
a) Controllable
b) Non-Controllable
4. From the view point of functions:
a) Production Cost
b) Administration Cost
c) Selling & Distribution Cost.
5. From the view point of procurement (Materials)
a) Purchase Cost
b) Landed Cost
Depending up on the purpose cost can be classified as required.
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