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Cost Type Code and Description

 

 

 

A Cost Type is a specific summary of cost or expense associated with an item which can be placed into a Class so taxes/burdens may be applied. For example: Material, Labor, Subcontracts, etc. The Cost Type Codes used in each Item, references the Cost Type List.

 

Cost Types let you see the actual amount of dollars for each cost type and provide a convenient way to report all the items associated with each cost type.

 

Each Cost Type can be placed into one of 5 classes: Material, Labor, Subcontract, Equipment, and Other. In the first group of markups (Class) Markup’s List, you may enter taxes and burdens for each Class. Each Item through its Cost Type in that Class, will have the percentage amount added to each Item.

 

How to Use: Assign a Code by entering it directly or press the List Key F7, moving to one and press the Use Key F8.

 

See Also: Cost Type Markup, Cost Type List, Bid Item List,Bid Item Form


 

 

 

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