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ELEMENTS OF COST
Classification Of Cost
According to……..
1. Nature
2. Function
3. Identifiably
4. Behavior
5. Association With Products
6. Controllability
7. Normality
8. Time
9. Relevance
10.Other Costs
Classification Of Cost
Materials Labour
Expenses
Cost Cost
MATERIAL COST
DIRECT MATERIAL COST
IT IS A COST OF MATERIALS
WHICH
ENTER
INTO & FORM PART OF PRODUCT
1. Factory overheads
2. Office & administration overheads
3. Selling & distribution overheads
ELEMENTS OF COST