Distinguish between ( a ) a variable cost, ( b ) a fixed cost, and ( c ) a mixed cost.

Q: An input whose cost is determined by the quantity of input consumed is a A. Fixed cost E Variable…

A: Step costs are- constant upto certain point and change to certain amount after that point. Fixed…

Q: Define a fixed against a variable cost and give an example of each?

A: A fixed cost is a cost that does not change with the level of output or activity in a business. It…

Q: 6) Define fixed, variable

A: Answer: Fixed cost A fixed cost is a value that doesn't modification over the short, although a…

Q: Give the general formula for a mixed cost

A: Cost:   It refers to the economic value incurred by an organization for manufacturing a product or…

Q: Fixed, variable, and semi-variable costs all have a distinct relationship.

A: Introduction: To put it simply, a cost is a measure of how much money is spent to produce a product…

Q: 3. Why there is a need to identify the standard cost?

A: Standard cost is the estimated cost of a certain process, resource or any item.

Q: he total mixed cost function

A: Mixed cost is a cost that contains both fixed and variable cost.Mixed cost algebric formula is as…

Q: Q- 8: opportunity cost, and sunk cost. Define the following terms: differential cost,

A:

Q: costs in which there are variable components and fixed components.....

A: Fixed costs will not change with the change in the level of production. Variable costs will change…

Q: Types of Fixed and Variable cost with the help of example and graph?

A: Costs are the total spent amount for the expenditures and for producing the goods and services.…

Q: The “fixed cost per unit function” may also be described as: a.an asymptote b.the total cost line…

A: Introduction:- Fixed costs, also known as indirect costs or overhead costs, are corporate expenses…

Q: Define the following terms, and explain the relationship between them: (a) cost estimation, (b) cost…

A: Cost:   Cost can be defined as the cash and cash equivalent which is incurred against the products…

Q: In the cost behavior equation, b*X denotes the variable cost per unit. Select one: O True O False

A: Cost behavior serves as an indicator of how a cost will vary overall when an activity is changed.…

Q: Describe variable costs and fixed costs and give an example of each.

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: What is the correlation between fixed, variable, and semi-variable costs??

A: Introduction:- Fixed Costs – Costs are same irrespective of the number of output produced Variable…

Q: Define the term Cost approaches.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Describe and apply the lower-of-cost-or-market rule.

A: Cost:   It is the economic value incurred by an organization to produce a product or render a…

Q: Explain the difference between a controllable and a noncontrollable cost.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: what would be the difference in gross margin between fifo and lifo cost flow assumptions

A: The difference in gross margin between FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) cost…

Q: 2. The following total cost graphs indicate which type of cost behavior? A. VARIABLE COST B. FIXED…

A: Cost behavior refers to how costs change as the level of activity or output changes within a…

Q: It is important to understand variable and fixed costs, average expenses, and the overall costs.

A: Introduction: We're only responding to the first three subparts, so if you have a question that…

Q: Understand and apply the lower-of-cost-or-market rule.

A: Cost: It is the economic value incurred by an organization to produce a product or render a service.

Q: Classify the following fixed costs as normally being either committed or discretionary:c. Research.

A: Cost:   It is the economic value of resources incurred by a firm to manufacture a product or render…

Q: What is the relationship among fixed costs, contribution margin, and thebreak-even point?

A: Fixed costs: These are the costs incurred by the organization irrespective of the volume of…

Q: The cost that is used for the benefit of many cost objects and cannot be easily related to any…

A: Answer is as follows

Q: simple cost analysis method to identify fixed costs and variable costs in a linear cost function is…

A: High low method is method which separates the elements of fixed cost and variable cost from the…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.