CHAPTER 1 The Importance of Cost Control APPLICATION EXERCISE Julia is reviewing a list of expenses for the operation of her establishment. She notices several jumps in costs 2. How might these changes affect the establishment's customers? compared to the previous month. These are the items that have increased in cost: 3. Are there any costs that Julia cannot reduce? 4. Which of the costs are semivariable, and how can Electricity Julia control the variable portion of those costs? Labor idio5. What can Julia do to increase profits even if she is not able to cut costs? Produce delivery fees Milk Given this information, answer the following questions: 1. What can Julia do to reduce these costs in the upcoming months? REVIEW YOUR LEARNING Who is expected to meet stan