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  • Understandingcost Janine

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    Janine Monta
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    Costs refer to the value of resources used up to produce a good or service. Total cost is the measure of all costs incurred to produce a given level of output. It is the sum of all costs associated with a particular activity or program. Average cost is the total cost of production divided by the quantity of output and measures the cost per unit of output. Examples given include that for a vaccination program with a total cost of 1,000,000 pesos immunizing 10,000 children, the average cost per child vaccinated is 100 pesos.

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    Costs refer to the value of resources used up to produce a good or service. Total cost is the measure of all costs incurred to produce a given level of output. It is the sum of all costs associated with a particular activity or program. Average cost is the total cost of production divided by the quantity of output and measures the cost per unit of output. Examples given include that for a vaccination program with a total cost of 1,000,000 pesos immunizing 10,000 children, the average cost per child vaccinated is 100 pesos.

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    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    6 views5 pages

    Understandingcost Janine

    Uploaded by

    Janine Monta
    Costs refer to the value of resources used up to produce a good or service. Total cost is the measure of all costs incurred to produce a given level of output. It is the sum of all costs associated with a particular activity or program. Average cost is the total cost of production divided by the quantity of output and measures the cost per unit of output. Examples given include that for a vaccination program with a total cost of 1,000,000 pesos immunizing 10,000 children, the average cost per child vaccinated is 100 pesos.

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    of 5

    Understanding Costs

    COSTS
    What society, government or individuals incur to run a program, or to produce something that they desire the value of money that has been used up to produce something while Price cost plus markup

    According to the Behavior of Cost:


    TOTAL COST Measure of all the costs entailed in producing a given level of output. Measure of aggregate or combined resource requirements of a particular scale of activity Sum of all the cost incurred during production of a certain activity, program or commodit

    AVERAGE COST Measure of the total cost of production associated with each unit of output

    Total Cost Quantity of Output

    Examples:
    Vaccination Program

    If total cost = Php 1,000,000 Total Vaccinate = 10, 000 children Average Cost = Php 100 per child immunized

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