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Week 3 Threaded Discussion Classifying Costs Assume you are going to become an entrepreneur and start your own business. Think about your talents and interests and come up with an idea for a small business venture that provides a unique product or service to local customers. You can select any business venture or select one from the following list: catering, wedding-planning consulting, video production company, personal shopping service, flower shop, or rock climbing guide service. In preparing your response, answer the following questions: 1. What would be the major costs of our business? Classify the costs into the areas of direct materials, direct labor, manufacturing overhead, general and administrative costs, and selling costs. (Your business may not have all of these cost classifications.) 2. In general, would you expect your company's indirect (overhead) costs to be less or more than the direct costs? What allocation base do you think you would use to charge overhead costs to individual customers? Search entries or author Unread mm Subscribe Reply