Millerstown, on the Nolin River, was the first community to be formally incorporated in 1826; Falls of Rough grew up around the Green Sawmill, which first operated in 1823; and Grayson Springs, a popular summer resort, opened in 1830 and peaked in prosperity about 1900.
Example 1. Assume a business produces clothing. A variable cost of this product would be the direct material, i.e., cloth, and the direct labor. If it takes one laborer 6 yards of cloth and 8 hours to make a shirt, then the cost of labor and cloth increases if two shirts are produced.
Variable Cost. Definition: A variable cost is a cost that varies in relation to changes in the volume of activity. The variable cost concept can be used to model the future financial performance of a business, as well as to set minimum price points.The most common variable costs are:ariable Cost. Definition: A variable cost is a cost that varies in relation to changes in the volume of activity. The variable cost concept can be used to model the future financial performance of a business, as well as to set minimum price points.