Question: Variable Cost is the: a. total expense incurred by a firm in producing and marketing a product or service. b. sum of the expenses of

Variable Cost is the:

a. total expense incurred by a firm in producing and marketing a product or service.

b. sum of the expenses of the firm that are stable and do not change with the quantity of the product that is produced and sold.

c. money or other considerations, including other goods and services, exchanged for the ownership or use of a good or service.

d. change in total cost that results from producing and marketing one additional unit of product. e. sum of the expenses of the firm that vary directly with the quantity of the product that is produced and sold.

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 General Management Questions!

Which of these new product characteristics is LEAST likely to increase the adoption rate: product that can be demonstrated to outperform current products. product that costs less than presently used...

9 8 Fixed cost is the Multiple Choice sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold. total expense incurred by a firm in producing and...

Fixed cost refers to: Multiple Choice 8 0 0 : 1 1 : 1 8 the total expense incurred by a firm in producing and marketing a product or service. the sum of the expenses that vary directly with the...

Flued cost refers to: Multiple Choice cocoat 1 the consideration exchanged for the ownership or use of a good or service. the total expense incurred by a firm in producing and marketing a product or...

Question 6 The total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost, is referred to as average cost. marginal cost. overhead...

Question 6 1 pts The total expense incurred by a firm in producing and marketing a product, which equals the sum of fored cost and variable cost, is known as overhead cent. I COM. u coul. average...

Fixed cost refers to O A. the sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold B. the sum of the expenses of the firm that vary directly...

Total cost refers to the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold. change in expenses that results from producing and...

Fixed cost is the Multiple Choice sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold. total expense incurred by a firm in...

Question 5 1 pts Variable cost is the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold. sum of the expenses of the firm that...

Dene a deferred expense. Provide two examples of deferred expenses. Why are adjusting entries generally required at the end of an accounting period for deferred expenses?

According to the National Health and Nutrition Examination Survey, published by the Centers for Disease Control and Prevention, the average cholesterol level for children between 4 and 19 years of...

Which term means the amount of acceptable deviation from a standard, determined when the standard was established? Question 6 options: 1 ) span of exception 2 ) breadth control 3 ) range of variation...

Case Greenbuilders Pte Lid ("GPL") is a local construction company which specialises in providing bespoke Design and Build construction services for private residential homes that are designed to be...