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Based on the chart below, classify each of the costs as variable, fixed or mixed. State how you came to your conclusion. Cost Drilling Costs Smoothing Costs Mining Costs Drilling Costs Smoothing Costs Mining Costs Units Cost Produced Month $80,000 40,000 January 60,000 February $120,000 January $100,000 February $100,000 January February $159,000 $195,000 70,000 60,000 43,000 55,000

Based on the chart below, classify each of the costs as variable, fixed or mixed. State how you came to your conclusion. Cost Drilling Costs Smoothing Costs Mining Costs Drilling Costs Smoothing Costs Mining Costs Units Cost Produced Month $80,000 40,000 January 60,000 February $120,000 January $100,000 February $100,000 January February $159,000 $195,000 70,000 60,000 43,000 55,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Based on the chart below, classify each of the costs as variable, fixed or mixed. State how you came to your conclusion. Cost Drilling Costs Smoothing Costs Mining Costs Drilling Costs Smoothing Costs Mining Costs CVP Drill #1 Month Cost January $80,000 February $120,000 January $100,000 February $100,000 January February 286 $159,000 $195,000 Units Produced 40,000 60,000 70,000 60,000 43,000 55,000 Sign ende W
Transcribed Image Text:Based on the chart below, classify each of the costs as variable, fixed or mixed. State how you came to your conclusion. Cost Drilling Costs Smoothing Costs Mining Costs Drilling Costs Smoothing Costs Mining Costs CVP Drill #1 Month Cost January $80,000 February $120,000 January $100,000 February $100,000 January February 286 $159,000 $195,000 Units Produced 40,000 60,000 70,000 60,000 43,000 55,000 Sign ende W
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