Question: Question 1 - Why is knowledge of cost behavior important for managerial decision making? Give an example to illustrate your answer. Question 2 - What

Question

1 -

Why is knowledge of cost behavior important for managerial decision making? Give an example to illustrate your answer.

Question

2 -

What is the relationship between flexible resources and cost behavior?

Question

3 -

What is the relationship between committed resources and cost behavior?

Your answers should be detailed and thorough. Assume you had to explain the concepts to someone with no knowledge of the subject matter. What do they need to know to understand?

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