Variable Cost: Variable cost refers the cost which varies due to the change in the level of production. Higher production level refers higher the variable cost, and lower production level refers lower the variable cost. Fixed Cost: Fixed cost refers the cost which remains constant for particular time duration and there is no effect on it of the level of production. Cost-Volume-Profit Chart: The cost-volume profit chart is a graphical representation of total sales, break-even point and total cost incurred. To identify: The arrangements, represent by the CVP chart.

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Chapter 18, Problem 15DQ

To determine

Variable Cost:

Variable cost refers the cost which varies due to the change in the level of production. Higher production level refers higher the variable cost, and lower production level refers lower the variable cost.

Fixed Cost:

Fixed cost refers the cost which remains constant for particular time duration and there is no effect on it of the level of production.

Cost-Volume-Profit Chart:

The cost-volume profit chart is a graphical representation of total sales, break-even point and total cost incurred.

To identify: The arrangements, represent by the CVP chart.

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