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Systems Analysis and Design (Shell...

11th Edition
Scott Tilley + 1 other
ISBN: 9781305494602

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Section
BuyFindarrow_forward

Systems Analysis and Design (Shell...

11th Edition
Scott Tilley + 1 other
ISBN: 9781305494602
Textbook Problem

Describe each cost classification and include two examples.

Program Plan Intro

Description of cost classification with examples.

Program Explanation

Cost classification helps us to group the similar costs under one label. Cost can be classified into the following types with examples of each are as follows:

1. Management functions

    (a) Manufacturing cost: Such as raw material cost.

    (b) Non-manufacturing cost: Such as delivery cost

2. Ease of traceability

    (a) Direct cost: Such as salaries and hardware purchase cost.

    (b) Indirect cost: Such as machine rentals and insurance expenses.

3. Accordance to activity

    (a) Fixed cost: These costs are fixed amounts and must be continued for functioning.

E.g. insurance...

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