2. Describe a fixed cost, variable cost. Explain why the variable and fixed costs are important...

2. Describe a fixed cost, variable cost. Explain why the variable and fixed costs are important in cost accounting. Give your opinion

Expert Solution

ekkarill92 answered 2 years ago

Fixed cost, variable cost and total cost. Which costs are important for economic decision making? Explain...

Fixed cost, variable cost and total cost. Which costs are important for economic decision making? Explain your answer. (10 points)

definition 1. cost 2. variable costs 4. fixed costs 5.

Explain or assit me in why or which accounting costs fixed, variable or semi-variable costs can...

Explain or assit me in why or which accounting costs fixed, variable or semi-variable costs can be challenging to measure and why in a healthcare enviroerment?

Why and how can companies reduce their fixed costs or switch them to variable costs? Explain...

Why and how can companies reduce their fixed costs or switch them to variable costs? Explain the advantages and disadvantages of high-fixed and low-fixed costs.

Describe the concept of cost behavior and the differences between fixed, variable, and mixed costs. Differentiate...

Describe the concept of cost behavior and the differences between fixed, variable, and mixed costs. Differentiate product costs from period costs and direct costs from indirect costs. Compare the different types of income statements and the purposes of each. Please explain to the best of your knowledge one or more of the following: 1- Product Cost . 2- Period Cost.. 3- Opportunity Cost 4- Sunk Cost 5- Shut -down Costs 6- Applied manufacturing overhead.

No. of Products Total Variable Costs, $ Total Costs $ Average Fixed Cost $ Average Variable...

No. of Products Total Variable Costs, $ Total Costs $ Average Fixed Cost $ Average Variable Cost $ Average Total Cost $ Marginal Cost$ 0 0 1 12 2 20 3 24 4 27 5 40 6 65 7 98 Assume that the fixed cost is $80, calculate the above costs in the table and explain the difference between average total costs and marginal costs. In a graph illustrate the Average Total Cost and Marginal Cost Curves, explain their relationship....

Explain the difference between fixed and variable costs

definition for “Variable Costs”, “Fixed Costs”, mention and explain “Two Subcategories of Variable Costs”, and mention...

definition for “Variable Costs”, “Fixed Costs”, mention and explain “Two Subcategories of Variable Costs”, and mention some examples of “Fixed Costs”

1. Define variable cost, fixed cost, and mixed cost. 2. Describe what happens to the net...

1. Define variable cost, fixed cost, and mixed cost. 2. Describe what happens to the net income of a company under each of the following assumptions: (a) Units sold are less than break-even units. (b) Units sold are greater than break-even units. (c) Units sold are equal to the break-even units

(1) "Describe what is meant by "Cost Behavior". (2) "Distinguish between a Variable Cost and Fixed...

(1) "Describe what is meant by "Cost Behavior". (2) "Distinguish between a Variable Cost and Fixed Cost (in Total and Per Unit)". (3) "Described what is a "Mixed Cost". (4) "Discuss the purpose of uses of the "High-Low Method".

Question