# Question: Match each of the following costs with its appropriate definition

Match each of the following costs with its appropriate definition:

_____ 1. Fixed cost per unit

_____ 2. Fixed costs in total

_____ 3. Variable cost per unit

_____ 4. Variable costs in total

_____ 5. Step costs

A. Vary directly and proportionally with changes in volume.

B. Varies inversely with the activity level.

C. Remains constant in the short run, regardless of changes in activity.

D. Constant over small ranges of output, but increases as levels of activity increase.

_____ 1. Fixed cost per unit

_____ 2. Fixed costs in total

_____ 3. Variable cost per unit

_____ 4. Variable costs in total

_____ 5. Step costs

A. Vary directly and proportionally with changes in volume.

B. Varies inversely with the activity level.

C. Remains constant in the short run, regardless of changes in activity.

D. Constant over small ranges of output, but increases as levels of activity increase.

**View Solution:**## Answer to relevant Questions

Complete each of the following sentences with the appropriate term from the list below:a. The horizontal (x) axis on a scattergraph plots _______.b. On a scattergraph, the steeper the slope of the line, the higher the ...Sandy’s Socks makes the world’s best socks. Information for the last eight months follows:Prepare a scatter graph by plotting Sandy’s data on a graph. Then draw a line that you believe best fits the data points. Using ...Refer to the Tan-O-Rama data in M5-7. Suppose Sherri performed a least-squares regression and obtained the following results:CoefficientsIntercept ..... 5,046.12x Variable 1 .... 2.19Put Sherri’s results into a ...Refer to the information in E5-5 regarding Mountain Dental.Required:1. Perform a least-squares regression using Mountain’s activity and cost information and state the linear cost equation (y = a + bx).2. Explain what each ...Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.50 per mile driven. Joyce has determined that if she drives 3,300 miles in a month, her total operating cost is $875. If she drives 4,400 miles ...Post your question