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Describing various forms of costs

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I have to write a memo in which I describe the various terms used to describe costs (fixed, variable, direct, indirect, sunk, etc.), including examples of each.

There must be seven descriptors of cost.

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A description of various types of costs and what they affect.

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I will give you seven costs and what they are, you can put them in the memo format.

Fixed costs are those that do not change, or change in only limited amounts. These are considered in most cases to be the administrative costs and include mortgage, rent, vehicle payments.

Variable costs are those that change and are usually associated with operations. Labor, resources, any costs that change with the ...

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