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Question
In element-wise classification of overheads, which one of the following is not included in?
Options
Fixed overheads
Indirect labour
Indirect materials
Indirect expenditure
Solution
Fixed overheads
Explanation:
Overheads are often classified element by element, with categories including indirect labour, indirect materials, and indirect expenditure. Fixed overheads, on the other hand, refer to cost behaviour (i.e., costs that do not vary with output level) rather than cost type.
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