It is difficult to quanitfy the syllabus of Finance and accounting. Both of the subjects are vast. If you are looking for a good score in these subjects, you should spend good amount of time towards your assessment. Furthermore,cost accounting contributes a significant portion of marks towards the final course grade.In such cases, it becomes imperative to pay attention to the homework given by the university.If you are not able to understand the criticality of the subject,then you should take cost accounting assignment help from the accountants working with us.
Concept of Different type of Cost with example
Cost accounting is the process of capturing costs, organizing the captured costs followed by reporting.However, due to the complex products, large transactions of the business and vast revenue,it becomes difficult to capture the essence of the topics covered by the area of Costing.Subject of Cost accounting often creates confusion because of multitude of concepts and problems.There are three different type of costs associated with a business. To understand the concept of Direct material cost, Direct labour cost and Burden cost. Definitions of three types of costs associates with accounting assignment are given below :
- Direct material costs: It is the cost that goes towards the raw material. For example, cost of glass is a direct material cost as we use glass to manufacture the end product, and it rarely happens that glass itself is used as an end product.
- Direct labor costs: It is the payroll or part wage that goes to the manufacturer.
- Burden costs:It is the overhead that can arise during the process of manufacturing. Companies keep a separate pool of money to meet these requirements.
Now you can see, how easy is to understand the terminology that is used while learning the concepts of cost accounting. You might be thinking that why we have used three mugs in equivalence to the concept of different type of costs? Answer is as simple as the case that we have created. The money that is inside the mugs will be used to run a business successfully. It is how our Accounting assignment help service prepares you in a better way.
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