Respuesta :
The costs of production incurred by firms when producing a good or service arise from the prices of the inputs that are used to produce said good or service.
The costs of production includes the direct and indirect costs which are incurred by firms or businesses from manufacturing a product or providing a service. These production costs can include a variety of expenses, such as manufacturing supplies, labor, general overhead, and raw materials.
Production incurs both fixed costs and variable costs. For instance, fixed costs for manufacturing an automobile would include equipment as well as the employee salaries.
Hence, the total product costs can be determined by adding together the total direct materials, labor costs, and total manufacturing overhead costs.
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