Types of Business Costs
Jennifer edwards It is very important to distinguish or differentiate business costs as they help in recognizes the cost figures that your business produce by selling goods or services. There are…
Fixed Cost and Variable Cost
Robert This classification is based on cost behaviour. It is one of the most useful classifications f.r the purpose of cost planning and control. Cost behaviour means how a cost will…
Cost Classifications for Predicting Cost Behavior (Variable and Fixed Cost)
Sana Ahmed Cost Classifications for Predicting Cost Behavior (Variable and Fixed Cost): Learning objectives of this article: Define and explain variable cost and fixed cost. Give examples of variable and fixed costs.…
Regression Line Definition
Abida Rehman Regression Line Definition: A line fitted to an array of plotted points. The slope of the line, denoted by the letter b in the linear equation Y = a +…
Definition and Explanation of Activity Based Costing System
Rubab Ali Definition and Explanation of Activity Based Costing System: Learning Objectives: Understand activity based costing system. How it differs from a traditional costing system? Activity based costing (ABC) is a costing…
Fixed Cost Definition
Fixed Cost Definition: A cost that remains constant, in total, regardless of changes in the level of activity within the relevant range. If a fixed cost is expressed on a…
Effect of Change in Variable Cost, Fixed Cost and Sales Volume on Contribution Margin and Profitability
Effect of Change in Variable Cost, Fixed Cost and Sales Volume on Contribution Margin and Profitability: Learning Objectives: What is the effect of change in variable cost, fixed cost and…