Question: What does relevant range mean? Why are fixed costs considered fixed and how does the relevant range affect a costs fixed-ness? 2. When using the

  1. What does relevant range mean? Why are fixed costs considered fixed and how does the relevant range affect a costs fixed-ness?

2. When using the high-low method, why might we be concerned about our estimates for variable cost per unit and total fixed costs?

3. Define contribution margin. How would management use contribution margin when making decisions for the business?

4. Are variable costs and differential costs the same thing? Why or why not?

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