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How is the total cost of a factory or other production site determined?
Fixed costs plus variable costs.
Are variable costs included in operating costs?
Variable operating costs + fixed operating costs = total operating costs.
What is the difference between average total costs and average variable costs?
Average total cost is the average of all your costs. This is your Fixed Costs and your Variable costs. Average Variable Cost is the average of your costs that can fluctuate.
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
What are a business firm's fixed and variable costs of production?
Fixed costs are costs that do not vary with the level of output, such as rent and insurance premiums. Variable costs are costs that change with the level of output, such as wages and raw materials.
How do you determine total costs?
Total cost is determined by adding fixed costs and variable costs together. fixed cost + variable cost = total cost
How is the total cost of a factory or other production site determined?
Fixed costs plus variable costs.
How is the total cost of a factory of other production site determined?
Fixed costs plus variable costs.
Are variable costs included in operating costs?
Variable operating costs + fixed operating costs = total operating costs.
What things do variable costs include?
Variable costs vary depending on a company's production. Production, or output, and costs are included in variable costs. Production and costs are directly related.
Are selling costs variable costs?
If selling costs varies with production level then selling costs are variable costs but if they remain fix then these are fixed costs.
What is the difference between average total costs and average variable costs?
Average total cost is the average of all your costs. This is your Fixed Costs and your Variable costs. Average Variable Cost is the average of your costs that can fluctuate.
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.
Under variable costing variable selling and administrative costs are included in product costs?
No. They are not.they are part of period costs.
Are all direct cost are variable?
Yes generally direct costs are variable costs but there may be some direct costs which can be fixed costs as well.
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 Total variable costs?
Total variable costs are the sum of expenses which change proportionally as the price of services and goods fluctuate. The total marginal costs above produced units is also referred to as total variable costs.
