Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Ell obj 2.01
2.01
| Term | Definition |
|---|---|
| administrative costs | expenses an organization incurs that are not directly tied to a specific function such as manufacturing, production or sale |
| benefits | advantages or payments employees receive in addition to their wages (e.g., sick time, holiday pay, health insurance) |
| cost of production | the total amount of money spent on costs of materials, labor, taxes, etc., to manufacture economic goods and services |
| cost of sales | the total amount of money a business has paid for the product (good or service) it has sold. |
| costs | the expenses involved with manufacturing, promoting, and distributing a product |
| professional fees | prices charged by individuals specifically trained in specific fields of arts an sciences, such as doctors, architects, lawyers, and accountants |
| sales and marketing costs | all reasonable costs and expenses (including labor) that are attributable to distribution, sale, promotion, and marketing of a product (including pre-launch activities), calculated on fully burdened basis, including Allocable Overhead attributable thereto |
| start-up costs | all of the expenses involved in setting up a new business or introducing a new product to |
| technology costs | expenses associated with acquisition or development, implementation deployment, and maintenance of technology assets, including depreciation of R&D equipment and amortization of know how |
| wages | money payments for labor on an hourly, daily, or weekly basis |
| operating expenses | the ongoing, da-to-day expenses of running a business that are not directly related to production |
| fixed costs | operating costs that do not decrease or increase with changes in production |
| variable costs | operating costs that fluctuate with changed 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 profic | a company's revenue after subtracting the costs of the products it has sold |
| break-even point | the point at which a business's total sales equal total expenses; the business has not yet made a profit but has not incurred any losses |
Created by:
molly.h261
Popular Management sets