Cost Descriptor Free Essay, Term Paper and Book Report
Cost Descriptors
The human resource manager responsibility is to have a vast knowledge of the current budget and how cost affects the agencies budget. Cost can be defined as the total spent for goods or services including money and time and labor. Costs are decreases in assets or increases in liabilities. Accounting concentrates more on providing accurate detailed information about the cost of producing a product, service, and carrying out business operations. Manufacturing cost can include fixed, variable, direct, indirect, and sunk cost.
Fixed costs are expenses that tend to always stay the same during a specific period. Fixed costs are associated with most administrative expenses. Fixed costs include items like rent, utilities and insurance. For example, the Federal Detention Center pays a monthly lease fee of 3000$ for 12 large copy machines. The monthly expense is fixed, because the lease amount stays the same each month and will not change until the lease is up and a new lease contract is agreed on. Anyone who is in charge of a business should be awa......
Word Count: 757
Page Count: 3 (250 words a page / double spaced)
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