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2.01

TermDefinition
administrative costs expenses an organization incurs that are not directly tied to a specific function such as manufacturing, production or sales
benefits advantages or payments employees receive in addition to their wages, sick time etc
cost production the total amount of money spent on costs of materials, labor, taxes, etc., to manufacture economic goods and services
costs of sales the amount of money a business has paid for the product
costs the expenses involved with manufacturing, promoting, and distributing a product
sales and marketing costs all reasonable costs and expenses including labor that are attributable to the distribution, sale, promotion and marketing of a product including allocable overhead attributable there to
start up costs all of the expenses involved in setting up a new business or introducing a new product to the market
tech costs expenses associated with acquisition or development implementation deployment and maintenance of technology assets including depreciation R&D equipment and amortization of know how
wages money payments for labor on an hourly, daily, or weekly basis \
operating expenses the ongoing day to day expenses of running a business that are not directly related to the product
fixed costs operating costs that do not increase or decrease with changes in production
variable operating costs that fluctuate with changes in production
semi variable costs expenses that are fixed until the company reaches a certain level of production then become variable also called mixed costs or semi fixed costs
gross profit a company's revenue after subtracting the costs of the products it has sold
break even point when you make your money back from your business
Created by: WarrenL16
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