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  3. 1. describe the term relevant range. why is it imp

1. Describe the term relevant range. Why is it important to stay within the relevant range...

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Accounting

1. Describe the term relevant range. Why is itimportant to stay within the relevant range when estimatingcosts?
2. Describe the variables in the cost equation Y = f +vX.

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Relevant range is a level of volume or activity within which a company is expected to operate All the budgeting and costing exercise are conducted with relevant range as the fundamental assumption In other words it is the underlying assumption when we comment certain costs to be fixed or variable Fixed costs may not be fixed and perunit variable cost may not be variable outside the relevant range of activity or volume Relevant range in managerial accounting and cost accounting discipline is a crucial concept for managers All the fundamentals of planning and controlling are based on the relevant    See Answer
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