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Cost Accounting – Accountants Club skip to Main Content

Indirect Cost

Indirect cost is those costs that cannot be directly assigned to/related to/identified with a particular cost center or cost object, but they benefit multiple cost objects. It is not possible to calculate them for a single cost object. However, it…

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Direct Cost

A cost that is easily attributable to a cost center is known as Direct Cost. When all the direct costs are taken together they are known as prime costs. Example: Direct Material, Direct Labor, Direct Expenses. The cost that can…

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Cost Apportionment (Distribution)

When the cost items cannot be directly charged to or accurately traceable to a particular cost center, then such items of cost are prorated amongst various cost centers, on an equitable basis, this process is known as cost apportionment. It…

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Cost Allocation

Allocation of cost, implies the entire distribution of the overhead item to the departments on a logical basis. It represents that part of cost attribution, which charges a particular cost to a cost unit. Allocation of cost is directly assigned…

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