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  2. Fixed cost - Wikipedia

    en.wikipedia.org/wiki/Fixed_cost

    Along with variable costs, fixed costs make up one of the two components of total cost: total cost is equal to fixed costs plus variable costs. In accounting and economics, fixed costs, also known as indirect costs or overhead costs, are business expenses that are not dependent on the level of goods or services produced by the business. They ...

  3. Activity-based costing - Wikipedia

    en.wikipedia.org/wiki/Activity-based_costing

    Fixed cost; Variable cost; Overhead cost; If achieved, the split of cost helps to identify cost drivers. Direct labour and materials are relatively easy to trace directly to products, but it is more difficult to directly allocate indirect costs to products.

  4. Variable cost - Wikipedia

    en.wikipedia.org/wiki/Variable_cost

    Variable costs are sometimes called unit-level costs as they vary with the number of units produced. Direct labor and overhead are often called conversion cost, [3] while direct material and direct labor are often referred to as prime cost. [3] In marketing, it is necessary to know how costs divide between variable and fixed. This distinction ...

  5. What Is a Fixed Cost? - AOL

    www.aol.com/fixed-cost-194647372.html

    Costs that are not fixed are called variable costs. These are the costs that change based on how much of something a company produces. The cost of materials to produce goods is a variable cost.

  6. Total absorption costing - Wikipedia

    en.wikipedia.org/wiki/Total_absorption_costing

    In this method cost is absorbed as a percent of the labour cost or the wages. (Overhead cost/Labour cost)x 100 If the Labour cost is 5000 and the overhead cost is 1000 then the absorption cost is 20%. If the labour cost of one job is 500 it will have to absorb 20% i.e. 100 as the overhead cost making the total cost to be 600.

  7. Manufacturing cost - Wikipedia

    en.wikipedia.org/wiki/Manufacturing_cost

    Indirect labour cost: The indirect labour cost is the cost associated with workers, such as supervisors and material handling team, who are not directly involved in the production. Indirect materials cost: Indirect materials cost is the cost associated with consumables, such as lubricants, grease, and water, that are not used as raw materials.

  8. Profit model - Wikipedia

    en.wikipedia.org/wiki/Profit_model

    The labour cost of sales = l λ q, where l is the amount of labour hours required to make one unit of finished goods; λ is the labour cost (rate) per hour. The variable overhead cost of sales = nq where n is the variable overhead cost per unit. This is not here subdivided between quantity per finished goods units and cost per unit.

  9. Direct costs - Wikipedia

    en.wikipedia.org/wiki/Direct_costs

    The equivalent nomenclature in economics is specific cost. [2] Direct costs may be either fixed or variable, but typically comprise materials, labour, and specific expenses such as, e.g. a royalty payment to a patent holder for a given production process, [3] all, directly attributable to a cost object. Thus by industry: