COST ESTIMATION

Ompoc, Kriznah Mae Lizada

Ortiz, Vanessa Tero
Padayao, Ern Genghis Q. Accounting Industrial High-Low Method Least-square
Subject and Section: Cost Accounting and Control – BSA 1A –B7 COST Analysis Method Engineering Method Regression Method
Title: Cost Classification and Cost Estimation ACCOUNTING

COST CLASSIFICATION

Predicting Cost Behavior Nature or Timing and Recognition Types of Inventory Financial Statements
Management Function of Expense
Fixed Cost Raw Materials Statement of
Product Cost Financial Position
Semi-variable/Mixed Manufacturing Nonmanufacturing Work in Process
Cost Cost Cost
Period Cost Finished Goods Income Statement
Variable Cost Direct Marketing Merchandise
Material /Selling Cost Inventory

Direct General
Labor Administrative
Cost
Overhead

Planning and Control Managerial Influence Time-frame Perspective Time Period for which Traceability to Cost to Decision-making and
the Cost is Incurred Object other Analytical Purpose
Standard Cost Controllable Cost Committed Cost

Budget Cost Historical Costs Direct Costs Relevant Costs

Noncontrollable Discretionary Cost
Cost Future Costs Incremental Costs
Absurption Cost Indirect Costs

Direct Costing Sunk Costs

Information Costs Opportunity Costs

Ordering Costs Marginal Costs

Out-of-pocket Costs Ordering Cost

Value-Added Costs