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Explain the terms natural immunity,artificial immunity,active immunity,and passive immunity.Give an example of natural passive immunity.
Variable Costs
Costs that vary directly with the level of production or business activity. Examples include raw materials, packaging, and direct labor.
Fixed Costs
Fixed Costs are business expenses that remain constant regardless of the volume of goods or services produced, such as rent, salaries, and loan payments.
Favorable Volume Variance
A metric that indicates a company has produced or sold more than initially anticipated, leading to increased profitability.
Contribution Margin
The difference between the sales revenue of a company and its variable costs.
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