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What is Total Product Cost?
total product that needs to sell to cover total costs
What is unit cost and total cost?
Unit Cost: It is the cost utilized to manufacture one unit of product Total Cost: It is the cost utilized to manufacture specific volume/ number of units of product Example: 10000 cost spent on production of 1000 units of product so 10000 is a total cost & 10000/1000 = 10 is a unit cost
Is indirect labor is a part of what cost?
Indirect labor is part of overhead costs and included in total product cost.
What is the subtotal amount if you have sale tax amount plus total amountl?
Sub total amount is the actual cost of the product being purchased
What is direct Cost per unit?
Direct cost per unit is that cost of unit incurred to manufacture one unit of product.Formula for direct cost per unit = total direct cost / total number of units.
What is Total Product Cost?
total product that needs to sell to cover total costs
Is fixed cost relevant in determining price of a product?
The fixed cost is relevant in determining price of a product. This is a cost that is associated with the product and will contribute to the total production cost of a product.
What is unit cost and total cost?
Unit Cost: It is the cost utilized to manufacture one unit of product Total Cost: It is the cost utilized to manufacture specific volume/ number of units of product Example: 10000 cost spent on production of 1000 units of product so 10000 is a total cost & 10000/1000 = 10 is a unit cost
What is the difference between absorption manufacturing cost and total cost with respect to product pricing?
The absorption cost is the portion that has to come out of the profits. You can usually pass on the cost of materials and labor, by adding them into the price of the product, but there is a limit to how much you can charge for the product. Above that limit, you might have to pay taxes, or transportation costs that cannot be added to the price of the product, and therefore, must be absorbed, lowering the profit.
How do you determine total costs?
Total cost is determined by adding fixed costs and variable costs together. fixed cost + variable cost = total cost
What is the total product that needs to sell to cover total cost?
Break-Even Point
Total product that needs to sell to cover total cost?
Break-even point
What is total revenue?
quantity sold x cost of product
When the total product curve is falling?
you have witnessed a downfall in the cost curve
Is indirect labor is a part of what cost?
Indirect labor is part of overhead costs and included in total product cost.
What do fixed selling costs include?
The total cost of marketing, advertising, and selling a product.
What is the difference between average costs and marginal costs?
This is the economic distinction equivalent to fully absorbed cost of product and variable cost of product. Average cost is total cost divided by number of units. Marginal cost is the cost to produce the next unit (or the last unit
