Write a memo to management detailing the various classifications of costs and provide two reasons for which it is important to classify cost.

Classifications :

Reasons for classifying costs :

Explanation:

The first step in Cost Classification if to Identify the Cost object.The Cost object is the unit or entity for which determination of cost is required.

By observing the cost accumulating on the cost object we would identify two types of costs :

Another category used to classify costs is whether or not they will be included in product valuation.

Lastly the Costs Behaviors bring about different classifications as follows :

a

explanation:

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants