Question

Costs can be classified on the basis of elements :

Answer 1

Answer:

Classification on the basis of Elements of Cost: Material, Labour and Expenses are the three important elements of cost. Primarily costs are classified according to the factors upon which they are incurred. Such as A] Material Cost- It is the cost of raw materials consumed for production...

Answer 2

Answer:

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Classification on the basis of Elements of Cost: Material, Labour and Expenses are the three important elements of cost. Primarily costs are classified according to the factors upon which they are incurred. Such as A] Material Cost- It is the cost of raw materials consumed for production.

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