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How do you calculate your variable cost and fixed cost given total costs and sales volumes?
Total Costs = Fixed Cost + Variable Cost soVariable Cost = Total Costs - Fixed Cost.
What does total cost of production include?
Variable Costs and 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.
Relationship between fixed cost and variable cost?
There is a huge relationship between fixed cost and variable cost. These two costs are the opposite of each other.
How do you calculate fixed cost given total cost?
Fixed Cost - costs that do not vary with the quantity of output produced.The best example I can think of is when making Chocolate Chip Cookies. You need ingredients and supplies to make them:Chocolate Chips (Variable Cost)Flour (Variable Cost)Butter (Variable Cost)Sugar (Variable Cost)Eggs (Variable Cost)Vanilla (Variable Cost)Baking Soda (Variable Cost)Salt (Variable Cost)Bowls (Fixed Cost)Spatulas (Fixed Cost)Oven (Fixed Cost) The gas or electricity would be a variable costBaking Sheet (Fixed Cost)Cooking Rack (Fixed Cost)Mixer (Fixed Cost)Fixed Costs do not vary with Quantity. Variable Costs do vary with Quantity.
Is direct material and labor a fixed cost?
If direct material and direct labor remains fixed irrespective of production volume then these are fixed costs otherwise these are variable costs and normally these are variable costs because it varies with the production volume.
Is indirect material fixed costs or variable costs?
Indirect material is normal fixed cost that is why it is allocated using some kind of ratio or formula.
What is the the variable costs plus the fixed costs?
Type your answer here... fixed cost + variable cost = total cost
How do you calculate your variable cost and fixed cost given total costs and sales volumes?
Total Costs = Fixed Cost + Variable Cost soVariable Cost = Total Costs - Fixed Cost.
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 does Decrease in material costs impact total variable costs?
If material cost is variable cost then yes by decreasing material cost company can reduce total variable cost.
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.
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.
Please can you tell me whether labor costs may be both fixed and variable costs?
Labor cost can be fixed as well as variable. That labor which varies with changes in level of production then it is variable cost but if labor remain fixed then it is fixed cost.
What happens when 'fixed cost' decreases?
Cost can be either fixed cost or variable cost. Fixed costs are the costs that are fixed in nature and do not vary with the change in scale of production. Example of fixed costs are: factory rent. Variable costs vary with the change in scale of production. Example: Raw material cost Net Margin= Sales- Fixed cost- Variable cost Decrease in fixed costs lead to increase in margin of an organization; keeping all other things constant. Sometimes, benefit of decrease in fixed cost may be transferred to the consumer in the form of lower price. Lower price results in higher sales volume with lower sales margin per unit.
Is total cost equals semi variable cost?
No. Total cost includes fixed costs, too. Even Semi Variable costs include Fixed costs...??? So whats the difference?
Is direct material a selling cost?
is direct cost a? Selling cost, manufacturing costs, direct, manufacturing cost indirect, general and administrative cost, fixed cost , variable cost, is direct cost a? Selling cost, manufacturing costs, direct, manufacturing cost indirect, general and administrative cost, fixed cost , variable cost,
