Question: Define fixed cost and variable cost and give an example of each.

Define fixed cost and variable cost and give an example of each.


Step by Step Solution

★★★★★

3.37 Rating (172 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

A fixed cost is a cost that in total remains const... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

76-B-M-A-C-B (323).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

Define and give an example of each of the methods of gathering survey data. Under what circumstances should researchers choose a specific approach?

Q:

Define and give an example of each of the following costs for a merchandising company: (a) Fixed cost (b) Variable cost (c) Mixed cost.

Q:

Define and give an example of each of the following revenues for a service company: (a) Fixed revenue (b) Variable revenue (c) Mixed revenue.

Q:

UESTION THREE a) Define fixed, variable and semi-variable costs and give an example of each. b) You have been given the following information on costs. Segregate them into fixed and variable...

Q:

The U.S. Department of Agriculture (USDA) Center for Nutrition Policy and Promotion (CNPP) developed and administered the Healthy Eating Index-2005 to measure how well the population follows the...

Q:

1.Why might variable costs be considered less risky than fixed costs? 2. What are some types of nonfinancial returns someone might gain from opening a business? 3. Define Fixed Costs and Variable...

Q:

Define Fixed Costs and Variable Costs and give specific examples of each.

Q:

Distinguish between a firm's fixed costs and variable costs and give an example of each.

Q:

Distinguish between a firms fixed costs and variable costs and give an example of each.

Q:

Prepare the financial analysis to support your decision between bankruptcy,voluntary reorganization,and Chapter11reorganization.It must be complete and prepared in a professional level,with the...

Q:

Sara Loy is a member of a 4-person equal partnership. Sara is not related to the other partners. In the current year, Sara sold 100 shares of a listed stock to the partnership for the $20,000 share...

Q:

Wood Cre-ations designs, manufactures, and sells modern wood sculptures. Sally Jensen is an artist for Wood Creations. Jensen has spent much of the past month working on the design of an intricate...

Q:

Given that V = pi * r ^ 2 * h + 2/3 * pi * r ^ 3 (i) make h the subject of the formula, (ii) find the value of h when V = 1000 and r = 7

Q:

Specify whether each of the following is a categorical or measurement variable. If you think the variable is ambiguous, discuss why. *a. Years of formal education *b. Highest level of education...

Q:

In an attempt to improve operating efficiency, one employee was made responsible for all purchasing, receiving, and storing of supplies. Is this organizational change wise from an internal control...

Q:

The ticket seller at a movie theater doubles as a ticket taker for a few minutes each day while the ticket taker is on a break. Which control procedure of a businesss system of internal control is...

Q:

Why should the responsibility for maintaining the accounting records be separated from the responsibility for operations? Explain. Discuss.

Q:

Can someone help me solve this? You are considering on investment in 30-year bonds issued by Moore Corporation. The bonds have no special covenants. The Wall Street Joumal reports that 1-year T-bills...

Q:

1) You have started your first job today, and you want to buy a house within 3 years. You are currently saving for the down payment. You plan to save $5,000 the first year. You also anticipate that...

Q:

---Can you please help me on 8c and all parts of number 9? I have A and B on number 8. Thank you! 8. (9 points possible) Suppose your company needs to raise $10 million to construct a new office...