Question

what are the 5 classification of cost with examples​

Answer 1

Explanation:

Cost Classification refers to a complete and transparent idea of separation of expenses in the different sector as like manufacturing cost, product cost, sunk cost, variable cost, direct cost, and indirect cost etc. Classifications of cost are a vital part of a company.

please mark as brainiest

Answer 2

The 5 classification of cost includes Administration cost,Production cost,Selling cost,Distribution cost and Research & Development cost.

Explanation:

Cost Classification:-

1. Administration Cost:These types of cost are generated through regular business and operational activities in any company or business organization.
2. Production Cost:Production costs are incurred in the course of production of goods and services in any company.These costs can be further classified as direct and indirect costs or expenses.
3. Selling Cost:These types of costs are related with any activity or conduct which are intended to ensure sale of a product or service.
4. Distribution Cost:Distribution is an integral part of the supply chain or any product or service and any cost or expenses associated with distributing the commodity to the market for final sale can be considered as part of the distribution cost.
5. Research and Development Cost:These costs pertain to manufacturing,development,improvement and modification of the product or good in concern.