Describe variable costs and fixed costs and give an example of each.

Q: What is the variable cost and indirect cost?

A: Variable costs are costs that changes with level of activity. If activity level increases, then…

Q: a) Define fixed, variable and semi-variable costs and give an example of each.

A: Since you have posted multiple questions we will do the first one for you. To get the remaining…

Q: Explain the difference between total variable costs and variable costs per unit.

A: Cost can be categorized as variable and fixed costs.

Q: Explain Fixed and Variable Costs?

A: Fixed Cost is the cost which remains same irrespective of the capital or strategic decision made by…

Q: Give some examples of Fixed Costs?

A: Fixed costs: Fixed costs are those costs which remain unchanged even there is a change in the…

Q: Distinguish between escapable and inescapable costs. Give an example of each.

A:

Q: Define and explain the contribution margin.  Include the difference in fixed and variable costs in…

A: Contribution margin may be defined as the amount of profit generated when only the cost of goods…

Q: Define unavoidable fixed costs.

A: Unavoidable fixed costs are fixed costs which cannot be avoided by discontinuing a product line or…

Q: Explain the difference between fixed cost and variable cost? Support your answer with examples

A: Cost:   It is the economic value of resources incurred by a firm to manufacture a product or render…

Q: Fixed, variable, and semi-variable costs all have a distinct relationship.

A: Introduction: To put it simply, a cost is a measure of how much money is spent to produce a product…

Q: Using the high-low method, determine the cost function for each cost?

A: High low method of cost estimation says that costs at highest level and lowest level are to be taken…

Q: What is a fixed cost? Give an example.

A: Fixed Cost: Fixed costs are those costs which remain unchanged even there is a change in the…

Q: Define variable cost and fixed cost. Give an example of each?

A: Variable Cost: Variable cost refers the cost which varies due to the change in the level of…

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: How do step-wise costs and curvilinear costs differ?

A: There are different types of costs such as variable costs, fixed costs, step costs, and curvilinear…

Q: What are costs that have characteristics of both a variable and fixed cost?

A: A cost that has characteristics of both a variable cost and a fixed cost is called a mixed costs or…

Q: Identify the costs included under variable costing.

A: The costs can be distinguished as variable and fixed costs.

Q: Types of Fixed and Variable cost with the help of example and graph?

A: Costs are the total spent amount for the expenditures and for producing the goods and services.…

Q: What is a variable cost? Identify two variable costs.

A:

Q: Explain the term Variable costs?

A: Cost is the total amount that has to be paid for a product.

Q: determine unit cost under variable costing?

A: Costing techniques are important concept used in cost accounting branch. There are two type of…

Q: Giving examples, distinguish between Variable cost and Fixed costs

A: Introduction: Costs: Costs are of two types: 1 ) Fixed costs 2 ) variable costs

Q: Distinguish between ( a ) a variable cost, ( b ) a fixed cost, and ( c ) a mixed cost.

A: Variable Cost: The cost which is not fixed is called as variable cost. This cost is directly…

Q: Define prime costs with an example?

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Describe how total variable costs and unit variable costs behave as the level of activity increases?

A: Variable cost varies with the changing level of activity i.e. if the activity increases the variable…

Q: Define prime costs?

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Understand thedifferences between variablecosts and fixed costs.

A: Fixed costs are those costs which remain fixed regardless of output but variable costs are those…

Q: Define the terms sunk cost and differential cost.

A: Differential cost:  Differential cost is the change in total cost due to increase or decrease in…

Q: Explain how the high-low method determines:a. The variable portion of a semivariable cost.b. The…

A: This method is used to segregate variable cost and fixed cost. In this method, highest level of…

Q: be considered

A: The phrase "mixed costs" in accounting refers to costs and expenses that include two components:…

Q: Identify each of these costs as fixed, variable, or mixed.

A:

Q: Understand how fixedand variable costs behave andhow to use them to predictcosts.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What is a fixed cost? A variable cost? A mixed cost? Give an example of each

A: Costs are the expenses incurred in business. It means costs incurred for the manufacturing of…

Q: Discuss the Cost- Volume- Profit assumptions

A: Cost-volume-profit analysis: It is also called break-even analysis which measures the impact on…

Q: Distinguish between fixed cost and variable cost.

A: Fixed Costs: These are the costs that remain constant in total dollar amount irrespective to the…

Q: What can be the Direct-Variable Costs?

A: Fixed cost means the cost which do not vary with the level of output. Variable cost means the cost…

Q: Are variable costs always relevant costs? Explain.

A:

Q: What does it mean that a cost is a direct, product, and variable cost?

A: The cost represents the value incurred by the corporation in making the product ready to sell in the…

Q: Which of the following is the best definition of a variable cost?

A: Types of Costs 1. Variable Cost: The cost which changes with the change in the level of activity is…

Q: What is the variable cost? Give an example.

A: Variable costs tend to vary in direct proportion to the volume of production. If a cost is variable,…

Q: what is the definition of fixed, variable, and mixed costs? Are variable costs or fixed costs easier…

A: Introduction: Cost accounting is a type of managerial accounting that capture a firm's production…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.