Question: 1/ Under variable costing all fixed costs - including fixed product costs - are expensed in the period during which they are incurred. If fixed

1/ Under variable costing all fixed costs - including fixed product costs - are expensed in the period during which they are incurred. If fixed costs must be incurred during a given period shouldn't they be expensed during that period? Does variable costing violate the matching principle?

2/ Select a type of business operation. Identify and describe a variable cost, fixed cost, and mixed cost incurred by that type of business

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