By Janet Walker
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Notice in particular that a number of subtotals can be highlighted before the total cost ﬁgure is determined. The usefulness of each of these subtotals depends on the management action that is to be taken based on each of the totals. 1 has been provided by the management accountant to help us to decide on the selling price to be charged for a luxury wallmounted hairdryer: the type that is ﬁxed to the wall for customers’ use in hotel bedrooms. You have been negotiating with the procurement manager of a chain of hotels in an attempt to secure a contract to supply a batch of hairdryers.
The important point is that managers should be aware of any assumptions that have been made in estimating cost behaviour patterns. They can then use the information which is based on these assumptions with a full awareness of its possible limitations. 3 Semi-variable cost A semi-variable cost is also referred to as a semi-ﬁxed or mixed cost. The CIMA Terminology deﬁnes it as a ‘cost containing both ﬁxed and variable components and thus partly affected by a change in the level of activity’. 8. Examples of semi-variable costs are gas and electricity.
3). 3 Stepped fixed cost The cost is constant within the relevant range for each activity level but when a critical level of activity is reached, the total cost incurred increases to the next step. The possibility of changes occurring in cost behaviour patterns means that it is unreliable to predict costs for activity levels which are outside the relevant range. For example our records might show the cost incurred at various activity levels between 100 units and 5,000 units. We should therefore try to avoid using this information as the basis for forecasting the level of cost which would be incurred at an activity of, say, 6,000 units, which is outside the relevant range.