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Give five classification of cost?
Anonymous
Mar 15
Give five classification of cost?
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ChatGPT
Mar 15
1. Fixed costs: Costs that remain constant regardless of the level of production or sales, such as rent, insurance, and salaries.
2. Variable costs: Costs that vary in direct proportion to the level of production or sales, such as raw materials, labor, and utilities.
3. Semi-variable costs: Costs that have both fixed and variable components, such as utilities that have a base rate plus a variable rate based on usage.
4. Direct costs: Costs that can be directly traced to a specific product, project, or department, such as materials and labor.
5. Indirect costs: Costs that cannot be directly traced to a specific product, project, or department, such as overhead expenses like rent, utilities, and administrative salaries.
2. Variable costs: Costs that vary in direct proportion to the level of production or sales, such as raw materials, labor, and utilities.
3. Semi-variable costs: Costs that have both fixed and variable components, such as utilities that have a base rate plus a variable rate based on usage.
4. Direct costs: Costs that can be directly traced to a specific product, project, or department, such as materials and labor.
5. Indirect costs: Costs that cannot be directly traced to a specific product, project, or department, such as overhead expenses like rent, utilities, and administrative salaries.
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