Cost classifications and estimation, Cost Accounting

Cost Classifications and Estimation

Cost classification may be defined like 'the arrangement of cost items in a logical sequence having concern to their nature and reason to be fulfilled'. The term cost should be qualified while in use in order to its precise meaning is established in a particular condition; conversely, cost refers to the amount of resources such have been diverted from other sacrificed or uses so like to achieve the needed objective. Although the term is utilized to refer to various aspects of cost, depending upon the base of argument such one is approaching the matter from. Various bases are utilized in classifying costs, hence giving us several types of costs.

Posted Date: 2/5/2013 2:40:13 AM | Location : United States

Related Discussions:- Cost classifications and estimation, Assignment Help, Ask Question on Cost classifications and estimation, Get Answer, Expert's Help, Cost classifications and estimation Discussions

Write discussion on Cost classifications and estimation
Your posts are moderated
Related Questions
P1 Given the following data:   German Bond U.S. T- Bonds

1. The following three one-year "discount" loans are available toyou: Loan A: $120,000 at a 7 percent discount rate Loan B: $110,000 at a 6 percent discount rate Loan

Consider the following information, prepared based on a capacity of 40,000 units: Category Cost per Unit Variable manufacturing costs

The next year's budget for Benny, Inc., is given below: Product 1-2 Sales $945,000-688500 Variable costs 459,900-297,000 Fixed costs 300,000-3

Reconciliation of Profits Reconciliation of profits disclosed by Financial Accounts and Costing Accounts in an interlocking system, While interlocking cost accounting system

Uniform Costing It is a general system utilizing agreed concepts, standard and principles accounting practices adopted via different entities in the similar industry to ensure


What are the major arguments for absorption costing?

Q. Is it possible to execute fca in the deficiency of a general ledger accounting system ? Ans. Yes. FCA can be executed for whichever solid waste management system and whi