Another variable cost that is associated with running a flower shop is the cost of purchasing, branding packaging material or shopping bags.
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What are the costs associated with running a flower shop?
Apr 22, 2020 · View Inquizitive Chapter 8 1-7.docx from ECON 213 at Liberty University. Inquizitive Chapter 8 1. What are some of the variable costs of running a flower shop? Correct Answer(s) water for plants cost
What type of variable is material handling cost?
Economics. Economics questions and answers. What are some of the variable costs of running a flower shop? Variable Cost Drag appropriate answer (s) here cost of plant food cost of inventory property taxes + rent . water for plants insurance.
Is factory labor a prime cost or variable cost?
Mar 06, 2016 · The following cost is an example of a variable factory overhead cost: a. Plant utilities. b. Material handling costs. c. Salary of the plant manager. d. Factory supplies. The cost of factory supplies is considered variable because the cost moves in …
What is an example of a variable factory overhead cost?
Variable cost are the cost directly proportional to the output. so the variable cost of a flower shop, is first the shipping cost. the shipping cost will vary because it will depends of the number of flower you will order. and the next variable cost are accessory cost, life the wrappers, balloons. it all depends on how much is your production
What are 5 examples of variable costs?
Variable costs are costs that change as the volume changes. Examples of variable costs are raw materials, piece-rate labor, production supplies, commissions, delivery costs, packaging supplies, and credit card fees. In some accounting statements, the Variable costs of production are called the “Cost of Goods Sold.”
What is a variable cost for a store?
What Is a Variable Cost? A variable cost is a corporate expense that changes in proportion to how much a company produces or sells. Variable costs increase or decrease depending on a company's production or sales volume—they rise as production increases and fall as production decreases.
What are some of the examples of variable costs when starting a small business?
Variable costs include:
- Raw materials.
- Commissions.
- Piece rate labor (workers paid for each unit completed)
- Production supplies.
- Billable staff labor.
- Shipping costs.
- Credit card fees.
- Gas and mileage.
What is variable cost explain with example?
Variable cost is a production expense that increases or decreases depending on changes in a company's manufacturing activity. For example, the raw materials used as components of a product are considered variable costs because this type of expense typically fluctuates based on the number of units produced.Jun 9, 2021
What makes variable cost?
In a business, the "activity" is frequently production volume, with sales volume being another likely triggering event. Thus, the materials used as the components in a product are considered variable costs, because they vary directly with the number of units of product manufactured.Jan 21, 2022
Which of the following is are variable costs?
Wages paid to the factory labour are costs that are directly proportional to the level of production. If zero output is being produced then these costs do not have to be incurred. These costs vary with the level of output produced. Therefore, they are classified as variable costs.
What are variable costs in service business?
Variable costs (aka variable expenses)
Falling under the category of cost of goods sold (COGS), your total variable cost is the amount of money you spend to produce and sell your products or services. That includes labor costs (direct labor) and raw materials (direct materials).Dec 12, 2019
Which is an example of a variable cost quizlet?
An example of a variable cost is: a payment to your raw materials supplier.
Is salary a variable cost?
Annual salaries are fixed costs but other types of compensation, such as commissions or overtime, are variable costs.
Which of the following is the best example of a variable cost?
The correct option is (c) Wages.
Wages is a variable cost because variable cost change with output and are directly associated with business activity....
What are fixed and variable costs examples?
Fixed costs remain the same throughout a specific period. Variable costs can increase or decrease based on the output of the business. Examples of fixed costs include rent, taxes, and insurance. Examples of variable costs include credit card fees, direct labor, and commission.
What is variable cost?
Variable costs are the sum of marginal costs over all units produced. They can also be considered normal costs. Fixed costs and variable costs make up the two components of total cost. Please note that variable costs are sometimes called unit-level costs as they vary with the number of units produced.
What is a flower shop?
A flower shop is a place where flowers are retailed. Flower shops basically retail cut flowers, floral arrangements, potted plants and artificial flowers. The market for both fresh and artificial flowers has continued to soar from generation to generation because we still have weddings, burials and other special events taking place all around us.
Who is Tony Martins?
Founder / Publisher at Profitable Venture Magazine Ltd. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. He is the Executive Producer @JanellaTV and also doubles as the CEO, POJAS Properties Ltd.