How do you recognize and classify costs for costing?

In this section, I will address the first steps of the costing process: cost recognition, accumulation and classification based on “inventoriability” and “traceability”. At the end of this section, you should be able to:

  • recognize and accumulate costs;
  • classify costs based on their “inventoriability”;
  • classify costs based on their “traceability”.

In Excel, you should also be able to:

  • use data validation;
  • format cells base on some condition you define.