In addition, medical devices include in vitro diagnostic products, such as general purpose lab equipment, reagents, and test kits, which may include monoclonal antibody technology. Certain electronic radiation emitting products with medical application and claims meet the definition of medical device.
Sales commission is a variable cost because the amount of the account is subject to variation. Think about it: A used car salesman is paid a commission say of $500 for every car he sells for the month of October. If he sells only 2 cars, then the sales commission is $1000, If he sells a whopping 12 cars, then the sales commission is $6000!!
Total Fixed Cost (TFC) is costs of firm s fixed resources; TFC does not vary with changes in short-run output. Total Variable Cost (TVC) are costs of firm s variable resources, TVC does vary with changes in output. TC = TFC + TVC Average Total Cost (ATC) is the total cost per unit of output. marginal variable which is greater than the average variable will increase the average variable, a smaller than average marginal variable will lower the average variable. Short Run Costs Total Cost (TC) is the cost of all the productive resources used by the firm.