Fixed, Variable, and Semivariable Costs PREMIUM
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Learning SummaryDescription:
This module examines the nature of fixed, variable, semivariable, and discretionary costs and how these costs can be used to make better business decisions. It shows how costs vary according to volume or usage and levels, and how short-run capacity affects cost behavior. Finally, it discusses the different business situations where these costs should be used.
Prerequisites:
Who should complete this module:
Managers, supervisors, entrepreneurs, and professionals in any discipline who work in service or manufacturing operations; CPA, CMA, CGMAs, and other accounting professionals; educators and students in business and management accounting.
Learning Objectives:
In this module, you will learn to:
1. Define fixed, variable, semivariable, and discretionary costs.
2. Illustrate how these costs vary with changes in volume.
3. Explain concept of relevant range and how it affects cost behavior.
4. Use these costs for decision making.
1. Define fixed, variable, semivariable, and discretionary costs.
2. Illustrate how these costs vary with changes in volume.
3. Explain concept of relevant range and how it affects cost behavior.
4. Use these costs for decision making.
Competencies Acquired:
How to identify and use fixed, variable, and semivariable costs for decision-making purposes.
Program Level:
Basic
Duration of Video:
7:07
CPE Credit:
0.5
Delivery Method:
QAS Self-study
Field of Study:
Finance
Additional Info:
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Last Revision Date:
1 Aug 2019
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