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6 Cards in this Set
- Front
- Back
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Fixed costs or overhead costs |
are costs which do not vary with the number of items sold |
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Variable costs |
are costs which vary directly with the number of items sold or produced |
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Total costs |
are fixed and variable costs combined - Fixed cost + variable cost |
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Break even point |
the level of sales at which total cost = total revenue |
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Revenue |
the income during a period of time from dale of good or services - quantity sold x price |
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Contribution |
is when the selling price less its variable cost |
