We explain what the cost is and what types of costs exist. Fixed cost and variable cost. Cost relationship with production.
The cost, also called cost, is the economic expense caused by the production of some good or the offer of some service . This concept includes the purchase of inputs, the payment of labor, production and administrative expenses , among other activities.
The way to calculate the costs of a company or organization may vary. But usually four categories are usually carried out which are then added in order to estimate the total cost that has been made in a certain period of time .
In addition, the concept of cost can be classified based on various criteria, some examples are:
Variation of costs:
Relationship factors of production and products :
Costs according to their nature. In this case, the costs of labor , finances , expenditure on raw materials and other supplies used in production are estimated , opportunity costs, that is, those investments that were not made due to lack of capacity and Finally, the expense for receiving services outside the company, such as transportation, should the company have to hire other companies that offer this services.
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