## Answers

Cost classification is very in cost accounting -

1. Helps in decision making - classifying cost into fixed and variable helps to decide to buy or make a product.

2. Deciding selling price - Total of fixed and variable cost helps management identifying the selling price of the product.

3. Cost control - Classification helps in controlling the cost like fixed cost is something is heavy and occurs only once at the time of purchasing it remains fixed irrespective of level of production.

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