Cost can be classified in 5 categories-behavior, traceability, controllability, relevance and function. Briefly explain each category. these videos...

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Accounting

Cost can be classified in 5 categories-behavior, traceability,controllability, relevance and function. Briefly explain eachcategory.
these videos will help you:https://www.youtube.com/watch?v=NqC0hgdcPuM&feature=youtu.be
https://www.youtube.com/watch?v=0y4cLVZQdOE&feature=youtu.be

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The explanation for each category is provided below i Behavior Costs can be classified according to behavior in accordance with activity The costs are variable costs fixed costs and mixed costs Variable costs vary in proportion to changes in activity Fixed costs remain constant irrespective of the level of activity Mixed costs vary with activity level but not in proportion as it includes a fixed cost portion and additional variable costs ii Traceability In See Answer

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