Cost Discriptors Paper
Running head: Cost Descriptors Paper
Cost Descriptors Paper
University of Phoenix
Executive Summary
The Human Resources Department has been struggling to understand current budget discussions the following are some various terms used to describe costs (fixed, variable, direct, indirect, sunk, etc.), including examples of each. Fixed costs are the costs that do not vary with the number of goods produced. Variable costs are expenses that change in direct proportion to the activity of a business. Actual costs refer to real transactions, whereas opportunity costs refer to the alternative taken into consideration by decision makers who might want to choose the line of activity which minimize the costs. Sunk costs are investment costs incurred before a certain activity takes place which cannot be recovered by the possible sale of the asset they produced and represent barriers to exit. Direct costs are identified specifically with a particular supported venture and can be......
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Approximate Word Count: 875
Approximate Pages: 4 (250 words per double-spaced page)
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