Question

explain various types of cost elements briefly​

Answer 1

Answer:

A cost is composed of three elements – Material, Labour and Expenses. Each of these three elements can be direct and indirect, i.e., direct materials and indirect materials, direct labour and indirect labour, direct expenses and indirect expenses.

Answer 2

A cost is composed of three elements – Material, Labour and Expenses. Each of these three elements can be direct and indirect, i.e., direct materials and indirect materials, direct labour and indirect labour, direct expenses and indirect expenses.