What is the definition of a variable cost? Multiple Choice The total cost (materials, labor, and overhead) is divided by the number of units of output. A cost that varies with the cost driver, but in discrete steps within the relevant range; is also called a semi-fixed cost. A cost that changes in total in response to changes in one or more cost drivers. A cost that, within the relevant range, includes both variable and fixed cost components. The portion of the total cost that, within the relevant range, does not change with a change in the quantity of a designated cost driver.
What is the definition of a variable cost? Multiple Choice The total cost (materials, labor, and overhead) is divided by the number of units of output. A cost that varies with the cost driver, but in discrete steps within the relevant range; is also called a semi-fixed cost. A cost that changes in total in response to changes in one or more cost drivers. A cost that, within the relevant range, includes both variable and fixed cost components. The portion of the total cost that, within the relevant range, does not change with a change in the quantity of a designated cost driver.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter13: Emerging Topics In Managerial Accounting
Section: Chapter Questions
Problem 13MCQ
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What is the definition of a variable cost? Multiple Choice
The total cost (materials, labor, and
A cost that varies with the cost driver, but in discrete steps within the relevant range; is also called a semi-fixed cost.
A cost that changes in total in response to changes in one or more cost drivers.
A cost that, within the relevant range, includes both variable and fixed cost components.
The portion of the total cost that, within the relevant range, does not change with a change in the quantity of a designated cost driver.
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