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Accounting For Management
Classifications of cost
Explain the difference between direct and indirect costs.
Explain variable, fixed and semi-variable costs.
Explain the difference between product cost and period costs.
What are differential, opportunity and sunk costs?
Explain how idle time, overtime premium and fringe benefit costs are treated.
Explain and give examples of four types of quality costs.
What are the major techniques used to split a mixed or semivariable cost into its variable and fixed cost components?
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Direct costs and indirect costs
Variable, fixed and mixed (semi-variable) costs
Product costs and period costs
Manufacturing and non-manufacturing costs
Differential, opportunity and sunk costs
Treatment of idle time, overtime premium, and fringe benefit costs
Costs of quality or quality costs
High-low point method