Definitions [1]
Define Fixed Cost.
Fixed costs mean the costs that do not vary or remain constant within a given period of time and range of activity despite fluctuations in output.
Important Questions [7]
- Rent of an office premises is an example of ______.
- Write a short note on direct labour cost.
- Write a short note on indirect labour cost.
- Costs incurred other than on material and labour for production and distribution are called ______.
- What do you mean by the term Overheads?
- Explain various types of Overheads.
- Distinguish between Fixed cost and Variable cost.
Concepts [5]
- Fundamental Concept of Cost
- Elements of Cost
- Cost Unit, Cost Centre and Cost Sheet
- Classification of Costs
- Controllable and Uncontrollable Costs
