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Types of Costs
In short run, costs can be of three general kinds:
Fixed Cost: Total fixed costs stay constant as volume differs in the relevant range of production. Fixed cost per unit reduces as the cost is spread above a rising number of units. Illustration comprise: Fire insurance, facility rent, reduction, and property taxes.
Variable Cost: Variable cost per unit stays constant no matter how many units are prepared in the relevant range of production. Total variable cost rises since the number of unit rises. Illustration comprise: Production material and labor. Whenever no units are made, neither cost is essential or acquired. Though, each unit produced needs production material and labor.
Semi-variable Cost: Semi-variable costs involve both fixed and variable cost elements. Costs might rise in steps or rise relatively smoothly from a fixed base. Illustrations comprise: Supervision and utilities, like electricity, gas, and telephone. Supervision costs tend to rise in steps as a supervisor's span of control is reached. Utilities usually have a minimum service fee, with costs rising relatively smoothly as more of the utility is employed.
Algebraic method of the break even point The break even point can be computed by the following method: a) Units of sales volume . b) Budget total or in terms of money va
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Question: A company has budgeted to produce and sell 10,000 units of a product, the selling price and the variable cost per unit of which is Rs 20 and Rs 12 respectively. Fixe
Examples
1. Compute the predetermined overhead rate.
Cascade Water Company (CWC) currently has 30 000 shares of common stock outstanding, trading at a price of R42 per share.
What are the Objectives of Intra company transfer pricing The objectives of Intra company transfer pricing are: 1) Evolution of performance and efficiency of each division.
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