THE COSTS
CLASSIFICATION OF COSTS

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    GENERAL CLASSIFICATION OF COSTS

    CLASSIFICATION
    BASE TO IDENTIFY
    Relevant Cost
    Irrelevant Cost
    Affected or unaffected by the decision
    Opportunity Cost
    Outlay Cost
    Nature of sacrifice
    Historical Cost
    Future Cost
    Degree of anticipation in its determination
    Variable Cost
    Fixed Cost
    Relationship with the volume of activity
    Identifiable Cost
    Common Cost
    Identification with an operation unit
    Disbursement Cost
    Virtual Cost
    Relationship with an immediate cash flow
    Incremental Cost
    Inmerged Cost
    Relationship with an increase in activity
    Avoided Costs (Discretionary)
    Commited Cost                    
    Grade of control
    Replacement Cost
    Historical Cost
    Moment of valuation


    CLASSIFICATION OF COSTS ACCORDING TO PRODUCTION COSTS


    According to the cost of production

    Raw Material
    Direct Labor
    Overhead


    CLASSIFICATION OF COSTS ACCORDING TO VOLUME OF ACTIVITY

    According to volume
    of activity

    Fixed
    Variable


    DIFFERENT COSTS FOR DIFFERENT PURPOSES

    Pricing
    Price = Costs of the previous months / (1 - % Contribution Margin) Price = 2.65 / (1 - .4) = 4.16
    Valuation of inventories (Methods)             
    Last purchase cost X Inventory amount = 2.65 X 100 = 265
    Cost of sales
    Units sold X Production costs per unit = 500 X 2.53 = 1,265
    Cash disbursement budget. Purchases budget.
    Amount of units to buy X Future costs = Future cash disbursement = 200 X 2.75 = 550
    Performance evaluation
    Expected cost = 2.25
    Real cost = 2.50
    Actual cost = 2.50
    Unfavorable variance = 0.25


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