Cost Accounting

Classification of cost

 Costing can be calssified based on: By nature or elements (materials, labour and overheads) By time (historical, pre-determined) By traceability to the product (direct, indirect) By association with the product (product, period) By changes in activity or volume (fixed, variable, semi-variable) By function (manufacturing, administrative, selling, research           and development, Read more…

By Anagha Sanil, ago
Cost Accounting

Overheads

Definition Every form of production involves two types of costs-Direct costs and indirect costs. Direct costs are those expenses which are identified and allocated to particular cost centers or cost units. Prime cost is the sum total of direct expenses like direct material, direct labour and changeable or direct expenses. Read more…

By Vishnu S Manoj, ago