Examlex
Which of the following is true regarding variances?
Marginal Cost
The supplementary charge triggered by the manufacture of one extra unit of a product or service.
Average Variable Cost
The total variable cost divided by the quantity of output produced; it represents the variable cost per unit of output.
Marginal Cost
The incremental cost associated with the production of an additional unit of a product or service.
Total Costs
The complete expenses incurred in the process of producing or providing goods and services, including both fixed and variable costs.
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