Variable Cost: The cost which changes with the change in level of activity is called a variable cost. Fixed Cost: Fixed Cost is rigid in nature and does not change according to the change in the level of activity. Mixed Cost: The combination of both variable cost and fixed cost is called mixed cost. Identify whether each of the following is best described as a fixed, variable, or mixed cost with respect to product units

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Chapter 21, Problem 2QS

To determine

Variable Cost:

The cost which changes with the change in level of activity is called a variable cost.

Fixed Cost:

Fixed Cost is rigid in nature and does not change according to the change in the level of activity.

Mixed Cost:

The combination of both variable cost and fixed cost is called mixed cost.

Identify whether each of the following is best described as a fixed, variable, or mixed cost with respect to product units

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