3) As you know in the short term decision making the management will consider the relevant cost of the cost element and irrelevant cost of the cost element. Based on the short term decision making the...

3) As you know in the short term decision making the management will consider the relevant cost of the cost element and irrelevant cost of the cost element. Based on the short term decision making the costs can be divided into two categories. Being the accounting specialization student, briefly explain both of them. Explain the examples for of both costs and explain the reasons for including them as examples of these two categories.