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Definition of VARIABLE EXPENSES
Those that vary with the amount of goods you produce or sell. These may include utility bills, labor, etc.
expenses that change with changes in either sales volume
the excess of revenues over direct variable expenses and avoidable fixed expenses for a particular segment
The profit per unit sold of a product after deducting product
expenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
The account that records the short-term, noninterest-
For investment companies, the management fee and "other expenses,"
A random value that can take any fractional value within specified ranges, as
an unknown item for which a linear programming
an unknown variable that is to be predicted
A random variable that can take only a certain specified set of discrete possible
A value determined within the context of a model.
A variable whose value is determined outside the model in which it is used. Also called
The costs incurred in buying, making or producing goods and services.
Costs involved in running the company.
Cost of doing business which does not change with the volume of business. Examples might be rent for business premises, insurance payments, heat and light.
expenses or costs that remain the same in amount,
What was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans.
a variable that, when changed, will
a critical factor that management believes will
Normal random variable
A random variable that has a normal probability distribution.
The total amount that was spent to run a company this year.
The amount of money the company must spend on overhead, distribution, taxes, underwriting the risk and servicing the policy. It is a factor in calculating premium rates.
expenses that have been paid for but have not yet been used up; examples are prepaid insurance and prepaid rent.
A function that assigns a real number to each and every possible outcome of a random experiment.
Operating expenses that vary in proportion to
What was spent to run the sales part of a company, such as sales salaries, travel, meals, and lodging for salespeople, and advertising.
Costs that have both fixed and variable components.
a variable used in a linear programming problem
a variable used in a linear programming problem that represents overachievement of a minimum requirement; it is associated with greater-than-or-equal-to constraints
expenses that vary in close proportion to changes
A value determined within the context of a model. Also called endogenous variable.
Annuity contracts in which the issuer pays a periodic amount linked to the investment
A form of annuity policy under which the amount of each benefit is not guaranteed or specified. The amounts fluctuate according to the earnings of a separate investment account.
A cost that is directly proportional to the volume of output produced. When production is zero,
A cost that increases or decreases in proportion with increases or decreases in the volume of production of goods or services.
a cost that varies in total in direct proportion
A cost that changes in amount in relation to changes in a related activity.
variable cost ratio
the proportion of each revenue dollar
A method of costing in which only variable production costs are treated as product costs and in which all fixed (production and non-production) costs are treated as period costs.
a cost accumulation and reporting method
Costs that change as the level of output changes.
Variable life insurance policy
A whole life insurance policy that provides a death benefit dependent on the
variable overhead efficiency variance
the difference between budgeted variable overhead based on actual input activity and variable overhead applied to production
variable overhead spending variance
the difference between total actual variable overhead and the budgeted amount of variable overhead based on actual input activity
Variable price security
A security, such as stocks or bonds, that sells at a fluctuating, market-determined price.
Variable rate CDs
Short-term certificate of deposits that pay interest periodically on roll dates. On each roll
Variable rate loan
Loan made at an interest rate that fluctuates based on a base interest rate such as the
Variable rated demand bond (VRDB)
Floating rate bond that can be sold back periodically to the issuer.
An intermediate measure of profit equal to sales revenue
gross margin, or gross profit
This first-line measure of profit
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