A3 Classifying cost Flashcards
1
Q
What is Classifying Cost
A
The process of cost classification is dividing a set of costs into several groups.
2
Q
What are the three types of Classification categories
A
Nature Element
Functions
Behavior
3
Q
what are the 3 costs under Classification by Nature Element
A
Material
Labor
Expenses
4
Q
what are the 2 costs under Classification by functions
A
Commercial costs
Production cost
5
Q
What is the 1 cost Classification by Behaviour?
A
Cost behavior
