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Explain variable cost and fixed cost
Variable costs: costs that vary almost in the direct proportion to the volume of production are known as variable costs. The examples of such costs are direct material, direct labour and indirect chargeable expenses, such as electric power, fuel etc.
Fixed costs: costs which do not vary with the level of production are called as fixed costs. These costs are called fixed because these remain constant irrespective of the level of output. It must, though, be noted that fixed costs do not remain constant for all times. In fact, it in the long run all costs have a tendency to vary. Fixed costs remain fixed up to a certain level of production.
Kinematic Pair: A pair is a joint of two elements which permits relative motion. The relative motion among the elements of links that built a pair is needed to be fully constrain
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Deposits from the public are one of the important sources of finance mainly for fine established big companies along with a vast capital base. The period of public deposits is rest
underlying assumptions of breakeven analysis and the limitations of this.
Illustration: ABC analysis Combine items on the basis of their relative value to form three categories—A, B and C. The data in the table below illustrates the ABC analysis.
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meaning standard costing
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
Characteristics of irrelevant costs
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