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How To Calculate Total Cost
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How To Calculate Total Cost

Rosemary Njeri

Total cost is the actual cost incurred in the production of a given product.

How to Calculate Total Cost.

How To Calculate Total Cost.

Variable Cost – This is a type of cost that changes as the level of output change.

Fixed Cost – This type of cost is not dependent on the level of output hence, does not change.

Example:

The fixed cost of producing a product is $15 the production’s variable cost is $25.Calculate the total cost incurred in the production of this product.

How To Calculate Total Cost.

Therefore,the total cost for production of this product is $40.

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