"<span>Based on variability, the costs has been classified into three categories, they are fixed, variable and semi variable. </span>Fixed costs<span>, as its name suggests, is fixed in total i.e. irrespective of the number of output produced. </span>Variable costs<span> vary with the number of output produced. </span>Semi-variable<span> is the type of costs, which have the characteristics of both fixed costs and variable costs".</span><span>
<span>Variable costs vary with the amount produced. Fixed costs remain the same, no matter how much output a company produces. A variable cost is a company'scost that is associated with the amount of goods or services it produces. ... On the other hand, a fixed costdoes not vary with the volume of production.</span><span>May 22, 2017</span>
