CLASSIFICATION OF COST

1) BY ELEMENT:-

• Material Cost
• Labour Cost
• Factory Overhead Cost

2) BY NATURE or TRACE-ABILITY:-

• Direct Cost
• Indirect Cost

3)BY FUNCTIONS:-

• Production Cost
• Administration Cost
• Selling and distribution Cost
• Research and Development Cost

4) BY BEHAVIOR:-

• Fixed Cost
• Variable Cost
• Semi-Varible or Mixed Cost

5) BY CONTROL-ABILITY:-

• Controllable Cost
• Uncontrollable Cost

6) BY NORMALITY:-

• Normal Cost
• Abnormal Cost

7) BY TIME:-

• Historical Cost
• Predetermined Cost

8) OTHER COSTS:-

• Marginal Cost
• Relevant Cost
• Opportunity Cost
• Shutdown Cost
• Replacement Cost