Camberwell runs a construction company. Classify the following costs by nature (direct or indirect) in the table below.
Cost Direct Indirect
Bricks
Plant hire for long term contract
Builders' wages
Accountants' wages
Explain what is meant by standard costing
Explain what is meant by a standard cost
Describe four types of standard.
Explain what is meant by a standard hour.
Give five possible sources of information from which a standard materials price may be estimated.