Question: 1. Define variable cost, fixed cost, and mixed cost. 2. Describe what happens to the net income of a company under each of the following

1. Define variable cost, fixed cost, and mixed cost.

2. Describe what happens to the net income of a company under each of the following assumptions: (a) Units sold are less than break-even units. (b) Units sold are greater than break-even units. (c) Units sold are equal to the break-even units

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