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Art
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GENERAL
CLASSIFICATION OF COSTS
CLASSIFICATION
|
BASE TO IDENTIFY |
Relevant Cost
|
Irrelevant Cost
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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
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CLASSIFICATION OF COSTS
ACCORDING TO PRODUCTION COSTS
According to the cost of production
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Raw
Material
|
Direct
Labor
|
Overhead
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CLASSIFICATION
OF COSTS ACCORDING TO VOLUME OF ACTIVITY
According to volume
of activity
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Fixed
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Variable
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DIFFERENT
COSTS FOR DIFFERENT PURPOSES
Pricing
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Price = Costs of the
previous months / (1 - % Contribution Margin) Price = 2.65 / (1 - .4) =
4.16
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Valuation of
inventories (Methods)
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Last purchase cost X
Inventory amount = 2.65 X 100 = 265
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Cost of sales
|
Units sold X Production
costs per unit = 500 X 2.53 = 1,265
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Cash disbursement budget.
Purchases budget.
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Amount of units to buy X
Future costs = Future cash disbursement = 200 X 2.75 = 550
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Performance evaluation
|
Expected cost = 2.25
Real cost = 2.50
Actual cost = 2.50
Unfavorable variance = 0.25
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