Examlex
Explain the nature of government. What is it and why is it necessary?
Variable Costs
Disbursements that are contingent upon the magnitude of production or sales transactions.
Contribution Margin
The amount by which the sale of a product or service exceeds its variable costs, contributing to covering fixed costs and generating profit.
Variable Cost
A cost that varies directly with the level of production or sales volume.
High-low Method
A method applied in cost accounting that calculates fixed and variable expenses by analyzing the maximum and minimum activity levels.
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