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In the process of decision making between mutually exclusive projects any cost which is left due to selection of alternative project is called the opportunity cost.
For Example:
if a person select project a and have to loss 1000 due to selection of project a, or if person select project b and loss 2000 due to it then project a has an opportunity cost of 1000 while project b has 2000.
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Should I invite my crush if i only talked to him couple times to my valentines party?
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Where would you use ramps?
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How is nitrogen proessed to pure form?
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Overhead cost is part of total cost and not different from total cost as formula is as follows: Total cost = material cost + labor cost + overhead cost
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Production cost centerpersonal cost centerservice cost centeroperation cost centerimpersonal cost centerprocess cost center
Does total cost equal the fixed cost plus the vriable cost divides by volume?
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Is janitorial cost a variable cost?
No, Janitorial Cost is not a variable cost, it is a Fixed Cost.
What is the selling price of a jacket that is 156 the profit is 30 percent of the cost what is the price?
Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80Selling price = Cost + Profit= Cost + Cost*30% = cost*(1.30) = 156*1.3 = 202.80
Difference between histotical cost and standard cost?
Standard cost is the cost which is basis to measure the actual cost historical cost is the initial cost
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