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Direct and Indirect costs
Recall such direct costs are costs which can be traced particularly to the end product of the production procedure while indirect costs cannot be so traced.
- Direct costs have of costs such can be directly attributed to an exact product, output or level of activity. Direct costs include direct raw materials and direct labour named as prime costs also in aggregate.
"PRIME COST = Direct Material Cost + Direct Labour Cost"
- Indirect costs are costs such will not be directly attributable to a exact product. They are regarded like overheads. Identification of overheads to exact products is done by cost apportionment and allocation. They involve supervisors' rent, salaries, electricity, and depreciation of building.
What are the dependent and independent variables in Cost Accounting??
Variable Overhead Variance (VOHV) VOHV is defined by ICMA, London, as 'the variation between the standard variable production overhead absorbed in the production achieved, whet
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what are the three of product costs in manufacturing company,discuss in detail each and supporting with examples.
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