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This will help the HR Department to become a more efficient machine for the corporation. Terms included will be fixed costs, variable costs, sunk costs, marginal costs, total costs, direct costs and indirect costs.
Fixed and Variable Costs:
Fixed costs are costs that do not change with respect to production or sales levels. These may include rent, insurance, membership dues, leases, salaries, and loan payments. As business components change, these stay constant. An example of a fixed cost would be commercial loan payments. These payments are the same amount each month until the loan is repaid...
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