Question: Based on the following cost data, items labeled (Ice) and (Fire) in the table below are which of the following amounts, respectively? Total Cost: Product
Based on the following cost data, items labeled (Ice) and (Fire) in the table below are which of the following amounts, respectively? Total Cost: Product Fire ? ? Production 10 units 100 units 1,000 units Production 10 units 100 units 1,000 units Total cost: Product Ice $100 $1,000 $10,000 Cost per Unit: Product Ice ? ? Cost per Unit: Product Fire $10,000 $1,000 $100 ? ? O Product Ice is a fixed cost and Product Fire is a variable cost O Product Ice is a variable cost and Product Fire is a fixed cost Product Ice and Product Fire are both variable costs O Product Ice and Product Fire are both mixed costs
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