ECONOMICS

Detailed explanation-1: -Examples are rent, insurance, and equipment. Fixed costs, such as warehousing and the use of production equipment, may be managed through long-term rental agreements. Variable costs vary depending on the level of output produced.

Detailed explanation-2: -1. The three cost measurement methods to compute the unit cost of a product or service are (1) actual costing, (2) normal costing, and (3) standard costing.

Detailed explanation-3: -Cost measurement methods. represent methods used to measure and record the cost of direct materials, direct labor, and factory overhead. There are three cost measurement methods: actual costing, normal costing, and standard costing.

Detailed explanation-4: -The cost per unit is derived from the variable costs and fixed costs incurred by a production process, divided by the number of units produced.