Classification of Costs

Classification of Costs

According to Elements

• Material Cost
• Labour Cost
• Service Cost

According to Variability

• Fixed Cost
• Variable Cost
• Semi-variable Cost

According to Normality

• Normal Cost
• Abnormal Cost

According to Traceability

• Direct (Traceable) Cost
• Indirect (Non-Traceable) Cost

According to Functions

• Manufacturing/Production Cost
• Administration Cost
• Selling and Distribution Cost
• Research and Development Cost

According to Controllability

• Controllable Cost
• Uncontrollable Cost

According to Time

• Historical Cost
• Predetermined Cost

According to Planning and Control

• Budgeted Cost
• Standard Cost

According to Management Decisions

• Marginal Cost
• Differential Cost
• Opportunity Cost
• Replacement Cost
• Imputed Cost
• Sunk Cost