Cost Accounting: Fixed, Variable & Mixed Costs in Business Operations & Production

Flashcard

Learn Mode

Match

Library

Create

Flashcards

Library

Match (Coming Soon)

Finance - Personal Finance

michael1tekrzp Created by 10 mon ago

Cards in this deck(20)

What are costs that do not increase or decrease based on the quantity of goods produced or the capacity of production?

What are costs that increase as more products are produced or if a service is at a higher capacity of production?

What are costs that contain both fixed and variable cost elements?

What are costs that can be directly attributed to the production of a good or service in a specific aspect or department; can be fixed or variable?

What are costs that aren't directly part of the product or process of the product/service being sold; can also be fixed or direct?

Rent, electricity, and utilities are examples of what type of cost?

Food, paper bags, and utensils are examples of what type of cost?

What is the total amount of sales generated through different product lines/services offered without subtracting any costs?

How do you solve for Total Revenue using price and quantity?

What is a source of sales or revenue that a business has?

Can a business have several revenue streams or just one?

Which of the following is an example of a revenue stream?

When it comes to salaries, what type of cost are regular hours considered?

When it comes to salaries, what type of cost are overtime hours considered?

What is the profit that remains after a business has paid out dividends to its shareholders?

What is it called when a business sells off its unwanted or unused assets to raise funds?

What is a source of finance for sole traders that comes mostly from their own personal savings?

What is money sourced from financial institutions such as banks, with interest charged on the loan to be repaid?

If the price of shoes is $70.00, and the company sells 300 of them, what is the total revenue?

If a company sells 5 sets of socks, and each set is worth $20, what is the total revenue?

Ask Our AI Tutor

Get Instant Help with Your Questions

Need help understanding a concept or solving a problem? Type your question below, and our AI tutor will provide a personalized answer in real-time!

How it works

Ask any academic question, and our AI tutor will respond instantly with explanations, solutions, or examples.

Get Started

Discover By Topic

Related Decks