Explain the two types of Costs?

1.	Explain the two types of Costs?
Answer» 1) Variable Costs- These change as per the number of pax in the package tour. The services that require variable cost include meals, accommodation, entrance fees and other costs charged at a rate per person. It includes the actual expenses (direct costs) of rooms, tickets, and other package components incurred with the sale of each package. 2) Fixed Costs- These are incurred before acquiring the variable services for the package tour. These costs often include advertising, pamphlets, brochures, salary, interest on loan and advances. Thus, fixed costs also include hiring buses and guides or interpreters.

Answer»

1) Variable Costs- These change as per the number of pax in the package tour. The services that require variable cost include meals, accommodation, entrance fees and other costs charged at a rate per person. It includes the actual expenses (direct costs) of rooms, tickets, and other package components incurred with the sale of each package.

2) Fixed Costs- These are incurred before acquiring the variable services for the package tour. These costs often include advertising, pamphlets, brochures, salary, interest on loan and advances. Thus, fixed costs also include hiring buses and guides or interpreters.

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