Examlex
COD is a shipping term that requires the buyer to pay in order to gain physical possession of the goods.
High-Low Method
A technique used in cost accounting to estimate fixed and variable costs based on the highest and lowest levels of activity.
Variable Cost
Outlays that move in tandem with the level of production or the scale of sales.
Fixed Costs
Expenses that do not change in proportion to the activities of a business, such as rent and salaries, within a certain period or level of production.
Cost Equation
A formula used to predict the total costs of production, based on fixed and variable costs, as a function of activity levels.
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