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• What are variable costs? How are they broken down? • Explain the concept of payback...

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General Management

• What are variable costs? How are they broken down? • Explainthe concept of payback period. • Discuss the concept of fixedcosts. How are they different from variable costs? • Give threereasons to keep good records every day.

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Variable costs as the name suggests are the costs that are directly proportional the level of the output in a production They are broken down by components that directly impacts the production level For example rent of a factory is not impacted by    See Answer
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