Fixed, Variable, and Mixed Costs
Which of the following cost categories is an alternative to a mixed or semi variable cost?
Fixed cost
What is an example of a mixed cost?
A phone bill
Which of the factors change variable costs?
Activity
What are fixed costs?
Are not dependent on levels of goods sold
Which of the following is an example of variable cost?
Electricity usage
What is one of the three main types of costs categories?
Mixed
Variable costs are those that will __________ based on volume.
decrease increase
Given the two examples, which cost category do they represent? The salary of a service businesses manager or supervisor. and Utility costs for a retail business.
fixed costs
Costs that have components of both fixed and variable are known as __________.
semi variable costs
Given the two examples, which category of costs do they represent? Hair stylists' shampoo, gel, laundry service, and technician pay - if they are paid by the number of clients served at a hair salon. and The costs of auto repair parts used at an auto repair shop.
variable costs
Given the two examples, which cost category do they represent? The costs of inventory a retailer or wholesaler buys to later resell. and Commissions for a salesperson who works 100% on commission.
variable costs