Managing Fixed and Variable Costs for Organization TeamC.pptx

Managing Fixed and Variable Costs for Organization TeamC.pptx

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Managing Fixed and Variable Costs for Organization Walterene J. Logan, Keonna Pearson, Samantha Smith, Kiavi Taylor, Leesa ECO/561 March 19, 2018 Professor Laurie Klosk-Gazzale
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Introduction What are fixed costs? o Fixed Costs are costs that do not vary with change in output What are variable costs? o Variable costs are costs that do vary with change in output Which costs are the most significant to a business? o Variable costs can be controlled an or altered, while fixed costs cannot and costs incurred must be paid regardless Example of company with high fixed costs o Microsoft Example of company with low fixed costs: o Walmart
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Cost Construction Fixed Costs Equipment Property Variable Costs Labor Materials Manufacturing Fixed Costs Equipment Property Variable Costs Labor Materials Manufacturing
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Minimizing Costs: Revenue : The income generated from sale of goods or services associated with the
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