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Fixed cost question

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Fixed cost question

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by John Moffat.
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  • October 29, 2021 at 6:03 pm #639402
    Natasha1996
    Participant
    • Topics: 41
    • Replies: 25
    • ☆☆

    What is the difference between General fixed cost and Specific fixed cost?

    Is it correct that direct cost is a variable cost and indirect cost is fixed cost in nature?

    And is it also correct that both fixed costs are relevant costs?

    October 30, 2021 at 5:57 am #639418
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    General fixed costs are costs that are incurred whatever is produced. Specific fixed costs are only incurred if the specific product to which they relate is produced.

    Direct costs are always variable. Indirect costs can be variable of fixed – this is all explained in my free lectures.

    Fixed costs may or may not be relevant – it depends on what decision is being made and what the information is in the question. Most often they are not relevant because the total is not affected by the level of production.

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