Fixed Cost: It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost. Variable Cost: Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level. To identify: Whether the given cost is fixed cost or variable cost.

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Answer 1

Question

Chapter 21, Problem 1E

To determine

Fixed Cost:

It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost.

Variable Cost:

Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level.

To identify: Whether the given cost is fixed cost or variable cost.

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Answer 2

Question

Chapter 21, Problem 1E

To determine

Fixed Cost:

It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost.

Variable Cost:

Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level.

To identify: Whether the given cost is fixed cost or variable cost.

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Answer 3

Question

Chapter 21, Problem 1E

To determine

Fixed Cost:

It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost.

Variable Cost:

Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level.

To identify: Whether the given cost is fixed cost or variable cost.

Expert Solution & Answer

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Answer 4

Question

Chapter 21, Problem 1E

To determine

Fixed Cost:

It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost.

Variable Cost:

Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level.

To identify: Whether the given cost is fixed cost or variable cost.

Expert Solution & Answer

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Answer 5

Chapter 21, Problem 1E

To determine

Fixed Cost:

It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost.

Variable Cost:

Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level.

To identify: Whether the given cost is fixed cost or variable cost.

Answer 6

Chapter 21, Problem 1E

To determine

Fixed Cost:

It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost.

Variable Cost:

Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level.

To identify: Whether the given cost is fixed cost or variable cost.

Answer 7

Chapter 21, Problem 1E

To determine

Fixed Cost:

It is a type of cost which does not vary with variation in production. It cannot be avoided by organization with regard to level of production. It remains same in short term. It is also known as period cost.

Variable Cost:

Variable costs are volume related costs that is they get varied with change in level of production. It increases with increase in production level and decreases with decrease in production level.

To identify: Whether the given cost is fixed cost or variable cost.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 21 - Prob. 1MCQ Ch. 21 - Prob. 2MCQ Ch. 21 - Prob. 3MCQ Ch. 21 - A Company’s standard for a unit of its single...Ch. 21 - Prob. 5MCQ Ch. 21 - Prob. 1DQ Ch. 21 - Prob. 2DQ Ch. 21 - Prob. 3DQ Ch. 21 - Prob. 4DQ Ch. 21 - Prob. 5DQ

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