Description
This is a presentation explaining cost terms and concepts.
Chapter 3
Cost Terms and Concepts
From the viewpoint of managerial needs, cost concepts fall into four broad categories.
(1) Income Measurement (2) Profit Planning
(3) Cost Control
(4) Special Situations
7-2...
classification of costs in prime cost and conversion cost
direct labor
direct materials
management accounting
manufacturing costs
manufacturingoverheads
non manufacturing costs
