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)

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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