1. Direct Cost: Direct costs are costs that can be traced back to a specific product or service. Examples include raw materials and labour costs.
  2. Indirect Cost: Indirect costs are costs that cannot be easily traced back to a specific product or service. Examples include rent, utilities, and administrative expenses.
  3. Fixed Cost: Fixed costs are costs that do not change with changes in production or sales. Examples include rent and salaries.
  4. Variable Cost: Variable costs are costs that change with changes in production or sales. Examples include raw materials and labour costs.
  5. Semi-Variable Cost: Semi-variable costs are costs that have both fixed and variable components. Examples include utilities and maintenance.
  6. Marginal Cost: Marginal cost is the cost of producing one additional unit of a product or service.
  7. Average Cost: Average cost is the total cost divided by the number of units produced.
  8. Opportunity Cost: Opportunity cost is the cost of the next best alternative that must be given up in order to pursue a certain action.
  9. Sunk Cost: Sunk costs are costs that have already been incurred and cannot be recovered.
  10. Absorption Costing: Absorption costing is a costing method that includes all manufacturing costs, including both fixed and variable costs, in the cost of a product.
  11. Activity-Based Costing (ABC): Activity-based costing is a costing method that assigns costs to products based on the activities required to produce them.
  12. Job Costing: Job costing is a costing method used for unique or custom-made products, where costs are assigned to a specific job or project.
  13. Process Costing: Process costing is a costing method used for standardized products produced through a continuous production process, where costs are assigned to each process.
  14. Standard Costing: Standard costing is a costing method that assigns a predetermined cost to each unit of product, based on expected costs and actual performance.
  15. Full Costing: Full costing is a costing method that includes all costs associated with producing a product, including both direct and indirect costs.

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