Total costs fall into two general categories: ______.

A) tangible costs and intangible costs
B) fixed costs and variable costs
C) production costs and service costs
D) singular costs and dual costs

Tangible Costs

Explicit expenses or outlays that are easily quantifiable and often involve monetary transactions, such as equipment purchases, rent, and salaries.

Intangible Costs

Expenses or costs that are not easily quantifiable, including things like brand value, intellectual property, or goodwill.

Variable Costs

Costs that change in direct proportion to sales.