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Variable
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Examples of semi variable direct costs?
An example of semi variable direct costs is wages. Since semi variable costs are partially fixed and variable, regular labor is fixed costs, as production rises and workers have overtime the overtime is considered the variable cost.
Which costs may have both variable and fixed components?
Labor. Fixed rate for hours planned; variable rates for unscheduled overtime.
Why are fixed and variable expenses important to your budget?
they are important because you have to pay fixed and they are accountable. variable expenses are important because they can change your budget.
The difference between fixed and variable inputs?
difference between fixed and variable inputs
Is freight in a variable of fixed cost?
Variable
Examples of semi variable direct costs?
An example of semi variable direct costs is wages. Since semi variable costs are partially fixed and variable, regular labor is fixed costs, as production rises and workers have overtime the overtime is considered the variable cost.
Which costs may have both variable and fixed components?
Labor. Fixed rate for hours planned; variable rates for unscheduled overtime.
Is direct labor a variable or fixed costs?
Generally, it would be considered a fixed cost, but it depends upon how employees are paid. If you pay employees a piece rate (say $1 for every doorknob that was polished) then labor costs would be variable, but if you pay your employees a salary, then it would be fixed (Fixed does not mean, however, that costs would never change. You must take into account overtime or the need to higher additional employees if productions went above a certain point)
Why are fixed and variable expenses important to your budget?
they are important because you have to pay fixed and they are accountable. variable expenses are important because they can change your budget.
Do bonds pay a variable interest rate monthly?
No, bonds pay a fixed amount of interest on a regular schedule.
Is a supervisor's salary a fixed or variable cost?
A supervisor's salary typically is considered a fixed cost. The salary of a supervisor typically would not be variable, unless there were other things involved, such as bonus pay.
Can salaried employees collect overtime pay?
Salaried employees are paid a fixed wage, however many or few hours they may work.
Is insurance premium a fixed cost or variable cost?
Yes It is fixed. No matter how much your volume of activity or production you are obliged to pay insurance premium as agreed.
What do you call a symbol that can represent a quantity?
VARIABLE. When this variable has a fixed number assigned to it and does not change, it is called a "fixed variable".
What is fixed and variable cost in an organisation?
A fixed cost is one an organization must pay whether or not it does any business. Rent is a fixed cost. Interest on a loan is a fixed cost. You either pay the interest on your loan or go bankrupt like General Motors. Other costs can be fixed or variable depending on the business. Inventory is variable. If sales are low, you keep a low inventory and do not keep much money tied up in stuff that is not selling. Labor can be a variable cost. With the right kind of business, you can have layoffs and when business picks up, hire more workers. Union contracts might make labor a fixed cost.
The difference between fixed and variable inputs?
difference between fixed and variable inputs
How is overtime rate and overtime pay calculated?
To calculate overtime pay, follow these steps: Determine Overtime Rate: Typically, it's time and a half (1.5 times the regular rate). For example, if the regular rate is $20/hour, the overtime rate is $30/hour (1.5 x $20). Calculate Overtime Hours Worked: Overtime is usually the hours worked over the standard full-time hours (often over 40 hours per week). Calculate Overtime Pay: Multiply the overtime hours by the overtime rate. E.g., for 8 overtime hours at a $30/hour rate, the overtime pay is 8 x $30 = $240. In Excel: Set up columns for names, regular hours, hourly rate, overtime rate, overtime hours, and pay. Multiply regular hours by hourly rate for regular pay. Multiply overtime hours by the overtime rate for overtime pay. Add regular and overtime pay for total pay. Ensure accuracy in calculations to avoid compliance issues. For complex situations, consider using dedicated software or automation tools.
