types of costs

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6 Terms

1
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fixed

do not change on the level of output (rent, salary)

2
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variable

do change (raw materials, packaging)

3
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Direct

directly linked to the production

4
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indirect costs

cannot be traced to one single product

5
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Overheads

Ongoing business expenses not directly related to making a specific product.

6
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Revenue

Money earned from selling products or services.