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Copy of CVP

Copy of CVP

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Published by: Remiere Joie V. Aguilar on Feb 02, 2009
Copyright:Attribution Non-commercial


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Module 5 Lecture 2COST, VOLUME and PROFIT
Ma. Cecilia C. CarlosRene D. Estember
Cost Structure
PriceMargin Total CostManufacturing Marketing General &Cost Cost Admin. CostPrime Cost Overhead CostDirect Direct Indirect Indirect FixedLabor Material Labor Material OverheadCost Cost Cost Cost CostDirect Direct Indirect IndirectWages Benefits Wages Benefits
Fixed costs - unaffected by changes in activity level
Variable costs – associated with an operation that vary intotal with volume of output
Incremental costs – additional cost resulting from increasingthe output of a system by one unit
Direct costs – can be measured and allocated to a specificoutput
Indirect costs – difficult to distribute or allocate
Prime costs – sum of direct labor and direct material costs
Standard costs – representative cost/unit established inadvance
Cash cost – cost that involves payment of cash
Noncash or book costs – those that do not involve paymentof cash
Sunk cost – occurred in the past and has no relevance tofuture costs
Opportunity costs – incurred due to use of limited resources
Cost Concepts

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