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What else can I help you with?
Which costs may have both variable and fixed components?
Labor. Fixed rate for hours planned; variable rates for unscheduled overtime.
What is the three major costs?
The three major costs in business typically refer to fixed costs, variable costs, and semi-variable costs. Fixed costs remain constant regardless of production levels, such as rent and salaries. Variable costs fluctuate with production volume, like materials and labor. Semi-variable costs have both fixed and variable components, such as utility bills, which can vary based on usage but also have a base charge.
Are selling expenses fixed or variable cost?
selling expenses is a mixed costs. it is a mixture of both fixed and variable components. for example, in selling expenses in a retail shop; fixed costs are the employees salary. while variable cost will be their commission or bonus of the sale.
Variable costs are relevant and fixed costs are irrelevant?
Generally variable costs are relevant costs but if due to any decision fixed costs are also going to affected then fixed costs are also relevant costs.
How many types of cost?
There are variable and fixed costs. Businesses can manipulate the variable costs, but they cannot change their fixed costs in business.
What is the the variable costs plus the fixed costs?
Type your answer here... fixed cost + variable cost = total cost
What is the first step in classifying costs according to behaviour?
The first step in classifying costs according to behavior is to identify and categorize costs as either fixed, variable, or mixed. Fixed costs remain constant regardless of production levels, while variable costs change in direct proportion to production volume. Mixed costs contain both fixed and variable components. Understanding these classifications helps in analyzing how costs will respond to changes in business activity.
Is Janatorial Costs a fixed mixed or variable cost?
The three types of cost you are referring to are Fixed, Semi Variable and Variable Costs. On a well though out COA the janitorial costs would fall under administrative costs. Thus fixed.
Examples of fixed costs and variable costs in hospital?
Fixed Costs: Salaries Variable Costs: Medicines, ambulance fuel, paper, "CEO & friends"benefits package.
Are variable costs included in operating costs?
Variable operating costs + fixed operating costs = total operating costs.
Do you subtract both fixed and variable from revenue to get profit?
Yes, to calculate profit, you subtract both fixed and variable costs from revenue. Fixed costs are expenses that do not change with the level of production, while variable costs fluctuate with production volume. The formula can be summarized as: Profit = Revenue - (Fixed Costs + Variable Costs). This gives you the net profit or loss for a given period.
Is distribution cost a fixed or a variable cost?
Distribution costs can be both fixed and variable, depending on the nature of the expenses. Fixed distribution costs include expenses like salaries for permanent staff and costs for distribution centers, which do not change with the volume of goods shipped. In contrast, variable distribution costs, such as shipping fees and fuel costs, fluctuate based on the quantity of items distributed. Therefore, it's essential to analyze the specific components of distribution costs to categorize them accurately.
