00:01
Hi, in this question we have to discuss about the fixed cost and variable cost.
00:09
So, here fixed cost refers to, so it do not vary.
00:15
So, fixed cost do not vary with the level of production.
00:22
So, level of production or sales or sales they remain constant.
00:29
So, they remain constant.
00:31
So, remain constant over a given period.
00:36
So, over a given period regardless of business activities.
00:44
So, regardless of business activity, activity.
00:52
So, it involves example of rent, salary and so salary and insurance.
01:00
Then we have variable cost.
01:06
So, variable cost this changes in the, so these are the expenses that change in proportion.
01:14
So, proportion to the level of production or sales...