Cost Drivers Examples In Service Industry

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A cost driver triggers a change in the of an activity. The concept is most commonly used to assign costs to the number of produced units. It can also be used in analysis to determine the causes of overhead, which can be used to minimize overhead costs. Examples of cost drivers are as follows: • hours worked • Number of customer contacts • Number of issued • Number of machine hours used • Number of product returns from customers If a business is only concerned with following the minimum accounting requirements to allocate overhead to produced goods, then just a single cost driver will be used. Related Courses.

Find a Travel Service Office. 5 Cost Drivers To Help You Make Accurate Expense Projections. Other examples include rent (square footage allocated per employee. It is likely to continue to become more prevalent in the service industry in the future. Activity-based costing: Theory and practice. In Handbook of Cost Management, edited by B. Brinker, B1-1-B1-33. New York: Warren, Gorham, and Lamont. Activity-based costing for hospitals.