The document discusses different types of costs including: direct costs, indirect costs, product costs, period costs, prime costs, conversion costs, manufacturing costs, planned costs, actual costs, controllable costs, uncontrollable costs, and opportunity costs. It also discusses cost behavior and how costs are classified for inventory valuation, income determination, decision making, and planning/control. Manufacturing costs include direct materials, direct labor, and factory overhead. Period costs are non-manufacturing like selling and administrative costs.