Question

Fixed cost and variable cost in brief.

Answer 1

Answer:

Variable costs vary based on the amount of output, while fixed costs are the same regardless of production output. Examples of variable costs include labor and the cost of raw materials, while fixed costs may include lease and rental payments, insurance, and interest payments.

Explanation:

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Answer 2

Answer:

Explanation:fixed cost does not change with the change in the quantity of output

For example.rent of the factory, Watchman wages,deposit for power etc.....

Fixed cost is also called overhead cost

Variable cost

These cost vary with the level of output

For example.wages of temporary workers,fuel cost, electricity charges etc...

Variable cost is also called prime cost,direct cost, special cost