The three elements of cost are material, labour and
charges
liabilities
expenses
assets
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- ________ is the cost of sequence of operations which begins with supplying materials, labor and services and ends with the primary packing of the product.
- _______ variable costs are those variable costs which are directly related to the production or sales level
- ________ measures the efficiency of the firm in utilization of capital employed to generate income.
- _________ are cost of formulating policy, directing and controlling operations not related directly to production, selling, distribution or research and development.