Cost Classification Elements 44

1- I can name and describe in a simple way the elements of cost.

2- can name and describe in a simple way the elements of cost.

3- What kind of cost can you control in a business?

-I can briefly explain the classification of cost.

-the nature of the cost registered in a company and as a consequence

-period base cost which is a selling expenditure

1)yes, depending on your brand and quality.

2)

fixed costs

variable costs

marginal costs

1- For its quality. maybe the place where they are selling it.

2- the costs that I could control in a company would be those that benefit me personally. as a bearing, lunch when traveling.

1. It is diffiult,I think that with the products that one knows the most itis possible

2. You cannot control production cost because they are variable

1.fluctuate

The cost of foreign products and services may fluctuate.

2.overhead

Our reduced overhead means reduced prices for you to enjoy.

3.both

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1.if I identify it just by looking closely at the product and detailing it

2.have good cost control adequately knowing how to manage the costs received by the company

Some materials were indirect 1. because people identified them in finished goods.

2. Salaries of Accountant and personal manager were direct labors.

3. Rent, electricity, and insurance were indirect expenses.

were

was

these

 overhead

 regardless

fluctuates

1. no, since prices go up and

    down and it is very

    confusing to know the price

2. depending on the expenses

    and income that there is in

    the company, it can be

    adapted to the prices and

    have appropriation of this

1 Sometimes I can know what certain products cost by constantly buying them, but it is not always possible to know

2General expenses, which include more varied expenses, from those of the marketing department, to repairs and maintenance of equipment and machinery. Labor. Consumption of raw materials or products necessary for production.

1.sometimes, because the products are known and the prices are almost always the same.

2.controllable costs and variable costs

1. the cost of a product is identified by: quality, size, the brand that is good, the origin.

2.distribution costs

Administration costs, Financing costs. production costs, prehistoric costs, product costs, predetermined costs, period costs, direct and indirect costs, fixed, variable, semi-variable costs.

It seems to me that sometimes we get the price right but not the exact speed, either because of the quality, size or some similar reference

2.direct costs

Indirect costs

Fixed costs

Variable costs

operating

opportunity costs

Sunk costs

Controllable costs

from time to time we can identify or approximate the price since we have to take into account where the purchase will be made.

2) Some of the variable costs are the following:

General expenses, which include more varied expenses,

Workforce

Consumption of raw materials or products necessary for production. The higher the level of production, the more the cost of raw material increases.

1. Do you identify a product cost just by looking at it? How? sometimes, since one can know the price, or sometimes not, it also depends on the product and where you buy it

2. What kind of cost can you control in a business? general expenses and miscellaneous expenses of the company, as well as sales and profit

1. sometimes yes, when I know the product I can know what it costs, but when I have never bought certain products it is difficult for me to know what it costs.

2. You can control the cost of all products depending on the place where it is going to be sold and the status of the place.

1. Sometimes. If you know the average price of certain products, it is possible to make an accurate prediction of its cost.

2. I think it is impossible to control all variables of cost all the time. However, you can maintain an average cost by consistently using the same providers and materials.

1. prices can fluctuate on the world market.

2.expenses may add up to more than you estimate.

3. expenses may add up to more than you estimate.

1.The cost of foreign products and services may fluctuate.

2.Lowering overhead is not a bad idea.

3.Regardless, in this group there are differences with previous generations.

1 The cost of foreign products and services may fluctuate.

2 This extra step adds time, costs and overhead to the process.

3 Expenses shall be reimbursed in accordance with the administrative rules in force

There are also differences between both accounting rules for investmen

there were costs that reflected the expenses of the time period.

semi-variable cost are good ways to record increasing and decreasing stages in the production line in companies.

1.cost elements.

2.controllabe.

3.maintaining the price of a product

1).Costs, volume, accounting and payment periods, material labour, expenses, controllability

2) Association the product, functions.

Change in Activity or Volume.

1. if I can identify it sometimes by the place where they sell the product or by the material of the product.

2.The costs that can be controlled are these:

* Fixed costs. These types of costs do not depend on what the company produces, since they will remain constant at all times.

* Variable costs. This other type of costs does depend on what the company produces, since they change based on it.

1.The variable cost was not as we expected.

2.The product cost wasn't too high last year

1. semi variable cost.

it is a cost integrated of a mixture

2. Direct : paper in books, leather in shoes.

Indirect : supporting materials such as nails in shoes.

3. to vary in a constant manner, go up and down

Example: In this case, the cost per product isn't the same since it fluctuates in an inverse way.

the product is at a very good price

*the company has excellent accounting

*the cost of having a good company is high

1. overhead

2. implicit

3. uncontrollable

4. Period expenditures

1. Sometimes I can identify the cost of a product by its quality.

2.Cost control is a smaller process within the overall cost management system. While cost control involves identifying expenses and reducing them to increase profits, cost management is the general process of estimating, budgeting, and monitoring project costs.

1. Costs are categorized as direct and indirect, fixed or variable.

A direct cost is one that you have to incur in your production process in order to generate income. A perfect example is the purchase of a sofa to which you apply a margin and then sell it. In the same way, if your activity is based on the production of goods or services, such as the hotel industry, the direct costs of production would be a combination of the cost of raw materials and the labor consumed in said process.

On the other hand, an indirect cost, related to the previous example, could be the insurance costs for the transport of the merchandise. Without becoming a mandatory cost to be able to generate income, the insurance expense is an additional cost in the company's activity that, depending on the business model and the management criteria that you want to apply, could be passed on to the merchandise or considered a structural expense.

Within the expenses necessary to develop the activity of your company, you can differentiate those that are fixed from those that are variable. This categorization of expenses is vital to understand the flexibility that your structure has to adapt to changes in the situation.

Fixed expenses are recurring and normally mandatory for the development of the activity. Fixed expenses are supplies, rentals, technical advice or insurance.

Variable expenses are linked to the level of production that the company has at the moment. The needs to buy raw material to produce products will fluctuate depending on the demand for the products.

2.The costs of categorize a direct cost.

1). We will calculate the average unit product cost during the period (including the two sales) by calculating the total product cost and dividing it by the total number of units sold.

2).Some of the variable costs that we all know are the following: General expenses, which include more varied expenses, from those of the marketing department, to repairs and maintenance of equipment and machinery. Labor. Consumption of raw materials or products necessary for production.

1. Costs are categorized as direct and indirect, fixed or variable.

A direct cost is one that you have to incur in your production process in order to generate income. A perfect example is the purchase of a sofa to which you apply a margin and then sell it. In the same way, if your activity is based on the production of goods or services, such as the hotel industry, the direct costs of production would be a combination of the cost of raw materials and the labor consumed in said process.

On the other hand, an indirect cost, related to the previous example, could be the insurance costs for the transport of the merchandise. Without becoming a mandatory cost to be able to generate income, the insurance expense is an additional cost in the company's activity that, depending on the business model and the management criteria that you want to apply, could be passed on to the merchandise or considered a structural expense.

Within the expenses necessary to develop the activity of your company, you can differentiate those that are fixed from those that are variable. This categorization of expenses is vital to understand the flexibility that your structure has to adapt to changes in the situation.

Fixed expenses are recurring and normally mandatory for the development of the activity. Fixed expenses are supplies, rentals, technical advice or insurance.

Variable expenses are linked to the level of production that the company has at the moment. The needs to buy raw material to produce products will fluctuate depending on the demand for the products.

2.The costs of categorize A direct cost.