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Forums › CIMA Forums › Cost identification and classification
What is the difference between total variable cost and total fixed cost
The total variable cost is the total of those costs that change with the level of production.
The total fixed cost is the total of those costs which do not change with the level of production.
This is all explained in my free lectures on cost classification and behaviour. The lectures are a complete free course and cover everything needed to be able to pass the exam well.
