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In like manner, a finished goods inventory will also have an inventoriable cost. This will include not only all the costs related to the raw materials, but also the direct labor and any fixed or variable overhead that is incurred while producing those finished goods. If those goods are stored at a rented facility, even the cost of the rental will be accounted for as an inventoriable cost.
A list and definition of different types of economic costs. Fixed Costs (FC). The costs which donât vary with changing output. Fixed costs might include the cost of building a factory, insurance and legal bills.Even if your output changes or you donât produce anything, your fixed costs stays the same.conomic cost includes both the actual direct costs (accounting costs) plus the opportunity cost. For example, if you take time off work to a training scheme. You may lose a weeks pay Â£350, plus also have to pay the direct cost of Â£200. Thus the total economic cost = Â£550.