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No, incremental cost and variable cost are not the same, although they can be related. Incremental cost refers to the additional cost incurred when producing one more unit of a product or service, which may include both variable costs and any additional fixed costs that arise from the increased production level. Variable costs, on the other hand, are costs that change directly with the level of production, such as materials and labor. While incremental costs often include variable costs, they can also encompass other costs that vary with production decisions.
What else can I help you with?
What happens to break even point if fixed cost increase and variable cost decrease?
If fixed cost is increased it means more number of units are required to cover fixed cost that's mean breakeven point will increase as well. If variable cost reduces then it means there is increase in contribution margin and contribution margin ratio which means that less number of units will be required to cover fixed cost hence breakeven point will reduce.
Why product cost is also called inventoriable cost?
Product cost is also called inventoriable cost because the two terms mean the same thing. These terms mean the cost of manufacturing or buying the product, plus whatever the cost of getting the product ready and in place for sale.
What do you mean by batch costing?
The identification and assignment of costs related to producing a set amount of goods. This includes all fixed and variable costs for producing the batch. The unit cost of a batch of goods can be calculated by dividing the batch cost by the number of units produced.
What does expense mean?
It means it is worth a lot.
What does variable expenses mean?
Variable expenses are costs that fluctuate based on an individual's or organization's level of activity or consumption. Unlike fixed expenses, which remain constant regardless of usage, variable expenses can change monthly, such as groceries, utility bills, and entertainment costs. Understanding variable expenses is essential for budgeting and financial planning, as they can significantly impact overall financial health.
What does variable mean in algebraic?
The variable is the letter, the thing that can be changed.
What does the variable mean in algebra?
The variable is the letter, the thing that can be changed.
What does cost variable mean?
Variable cost is the cost which varies as variation in production units For example if 10 units produce variable cost = 100 if 100 units produce variable cost =1000 so per unit variable cost = 10
What does variable q mean?
It means any thing that you define it to mean.
Do Variable costs and differential costs mean the same thing?
No they are not the same things. Differential costs are ones that differ between different alternatives. Differential costs are used interchangeably with the terms avoidable, incremental, and relevant costs. However, variable costs are simply ones that vary with different activity levels. They do not necessarily differ between alternatives.
What is does independent variable mean in math terms?
The independent variable is the thing that stays the same throughout the problem.
What does the word variable mean in a science project?
The word Variable means that it is the thing that is undefined and needs to be defined in the experiment
What does situation mean in math?
Use a variable for the question
What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
What does variable mean in a science fair project?
the variable, is what varies(the thing your testing against the other thing) or what is always changing hope that helps signed amna osman
What does the word variable mean in you science project?
It is the thing that is undefined and needs to be defined in the experiment, as in what changes, how you measure and so forth. Basically like a variable in math.
What is the one thing that you change an a experiment mean?
In an experiment, the one thing that you change is called the independent variable. This variable is deliberately altered to observe its effects on the dependent variable, which is measured to assess the outcome of the experiment. By controlling other factors, researchers can isolate the impact of the independent variable on the results, allowing for clearer conclusions about cause and effect.
