Based on Traceability of costs to products (natural classification of cost)

Direct and Indirect costs

2. Degree of association of cost

Product and period costs

3. based on behaviour
Fixed, variable and Mixed (semi-fixed or semi-variable) costs

4. costs for decision making and control

opportunity cost, sunk cost, relevant cost, differential cost, imputed costs, out-of-pocket costs,
shutdown cost, controllable cost, uncontrollable cost and standard cost

5. other costs
Joint cost and common cost

6.based on functions
manufacturing cost, administrative overheads and selling and distribution cost