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Exercise 18-2 Defining cost types C1 Match each of...

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Accounting

Exercise 18-2
Defining cost types
C1
Match each of the cost classifications a through e with its definition.
a. Total cost
b. Mixed cost
c. Variable cost
d. Step-wise cost
e. Fixed cost
1. The combined amount of all costs.
2. Remains constant over a relevant range of volume; when it reaches the end of its relevant range, it changes by a lump sum and remains at that level until it exceeds that relevant range.
3. Has a component that remains the same over all volume levels and another component that increases in direct proportion to increases in volume.
4. Remains constant over all volume levels within the relevant range.
5. Increases in direct proportion to increases in volume; its amount is constant for each unit produced.

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