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EII obj: 2.01
Startup Costs
Term | Definition |
---|---|
Administrative Cost | expenses that a business pays for that are not directly tied to a specific function |
Benefits | Advantages or payments employees receive in addition to their wages |
Cost of Production | the total amount of money spent on cost of materials, labor, taxes to manufacture economic goods and services |
Cost of Sales | The amount of money a business has paid for the product it has sold |
Costs | the expenses involved with manufacuring, promoting, and distributing a product |
Professional Fees | Prices charged by individuals specially trained in specific fields of arts and sciences |
Sales and Marketing Costs | all reasonable costs and expenses that are attributable to the description, sale, promotion, and marketing of a product |
Start-up Costs | all of the new expenses involved in starting a new business or intuoducing a new product |
Technology Costs | expenses associated with aquisition or development, implementation, development, and maintenance of technology assets |
Wages | money payments for labor on an hourly, daily, or monthly basis |
Operating Expenses | the ongoing, day-to-day expenses of running a business that isn't related to production |
Fixed Costs | operating costs that do not increase or decrease with changes in production |
Variable Costs | operating costs that flucuate with changes in production |
Semi-variable Costs | expenses that are fixed until the company reaches a certain level of production, then become variable |
Gross Profit | a company's revenue after subtracting the costs of the products it has sold |
Break-even Point | the point at which a business's total sales equal total expenses |