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Formula of Variable Cost. The formula to calculate variable cost is: Total Variable Cost = Total Quantity of Output * Variable Cost Per Unit of Output. To recognize variable costs, it is important to understand how to categorize costs.Variable costs are those which do not remain constant, specifically when production activities fluctuate.ormula of Variable Cost. The formula to calculate variable cost is: Total Variable Cost = Total Quantity of Output * Variable Cost Per Unit of Output. To recognize variable costs, it is important to understand how to categorize costs.
Economic Definition of total variable cost. Offline Version: PDF. Term total variable cost Definition: Cost of production that changes with changes in the quantity of output produced by a firm in the short run. Total variable cost is one part of total cost. The other is total fixed cost.