Question: Discussion topic 3 Class, let's define Variable costs and Fixed costsplease use an example. Are these cost classifications in any way related to Direct and

Discussion topic 3

  • Class, let's define Variable costs and Fixed costsplease use an example. Are these cost classifications in any way related to "Direct" and "Indirect" costs? Why are these costs classifications important in Managerial Accounting? Anyone?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

define Variable costs and Fixed costsplease use an example. Are these cost classifications in any way related to "Direct" and "Indirect" costs? Why are these costs classifications important in...

Q:

Just need a response thank you! Define variable costs and fixed costs, and use an example for each. Are these cost classifications in any way related to direct and indirect costs? Why are these cost...

Q:

Controller, Judy Koch, in a recent speech said, "I rarely see a real variable cost or a truly fixed cost." What did she mean? Include in your response an explanation of the difference in behavior of...

Q:

drr The website to access the 10K is http://www.sec.gov/edgar/searchedgar/companysearch.html. You should use the 12/31/19 10K filing. This company is in the same industry as P&S. a. Identify the...

Q:

Answer all parts of the qus Answer THREE 1. Critically outline and assess the Marshall-Hicks laws of derived labour demand. Discuss how a trade union might attempt to minimize the adverse...

Q:

Assignment: Brief 2: Portal Corporation Purpose To assess your ability to: define and illustrate a cost object distinguish between direct costs and indirect costs explain variable costs and fixed...

Q:

Factors of Production Land, Labor, Capital and entrepreneurship depending on the economist and text are typically the factors of production (Case, Fair, & Oster, 2016). Economists regularly evaluate...

Q:

PLEASE answer word questions in WORD AND EXCEL IN EXCEL PROGRAM! WORD ANSWERS BRIEF SENtence FOLLOW YOUTUBE LINK FOR EXCEL FORMAT!! ---->https://www.youtube.com/watch?v=R4IqdTunGQw HIGHLIGHT answers...

Q:

the questions are in the file. 28. Lionel Corporation manufactures two products, Product B and Product H. Product H is of fairly recent origin, having been developed as an attempt to enter a market...

Q:

Question 1 (1 point) The Weighted Average method is used for process costing at Elvis Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly...

Q:

Frederick Manufacturing Corp. ordered 500 dozen units of Import Traders rubber pads for $2,580. The order indicated that the pads should be as soft as possible. Import Traders delivered the rubber...

Q:

Identify which of the following transactions and events are product costs and which are period costs: Storage and material handling costs for raw materials. Gains or losses on the disposal of...

Q:

Which inventory costing method most closely approximates current cost for each of the following? Ending Inventory - LIFO; Cost of Goods Sold - FIFO Finding Imventent - FifO: Cost of Goods Sold - uFO...

Q:

Free cash flow valuation You are evaluating the potential purchase of a small business with no debt or preferred stock that is currently generating $ 4 2 , 7 0 0 of free cash flow ( F C F 0 = $ 4 2 ,...