List all cost elements needed for the manufacturing and

Exploration research:

Cost elements and classifications in various industries

Choose a real-life product or service. Anything is acceptable from soft drinks to aircrafts.

The Task:

The group should collect and analyze data to answer the following points regarding their product:

1. Introduction about the organization, product and its production stages.

2. The resources: all resources needed for the manufacturing of the product.

3. The Costs: List all cost elements needed for the manufacturing and classify them into direct, indirect, variable and fixed costs.

4. Identify the cost object which you refer to in your classification in point 3 (more than one cost object can be examined).

5. How are manufacturing overheads being allocated to different objects (the allocation bases)?

6. Are there any period costs shown separately from product costs?

7. Does the product belong to job order costing system or process system?

- The report should not exceed 3,000 words
- You can use your place of work to gather your data (recommended)


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