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Costing

Forums › FIA Forums › MA2 Managing Costs and Finance Forums › Costing

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by Ken Garrett.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • July 24, 2021 at 4:49 am #629260
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    “Most variable costs are controllable in short term.”
    What is meant by short term and long term in costing by behavior?

    July 24, 2021 at 7:55 am #629288
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10597
    • ☆☆☆☆☆

    It is really your decision-making time horizon.

    If you are looking at production next week, most costs are fixed….even labour costs might be difficult to reduce in that period.

    If you are looking at production decisions for next year, you could make supervisor salaries and rents variable.

    July 24, 2021 at 8:29 am #629292
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    Sir I am still unclear. Can you explain more? How can cost behavior has relation with time?

    July 24, 2021 at 11:25 am #629301
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10597
    • ☆☆☆☆☆

    In the long run all costs are variable. In the short run probably only material is variable.

    I can explain this no other way than my first posting.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Costing’ is closed to new replies.

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