Given the Following Cost Data, What Type of Cost Is

question 141

Multiple Choice

Given the following cost data, what type of cost is shown? $$\begin{array} { | l | l | } \hline { \text { Total Cost } } & \text { Number of units } \\\hline \$ 20 & 1 \\\hline \$ 40 & 2 \\\hline \$ 60 & 3 \\\hline \$ 80 & 4 \\\hline\end{array}$$

• A) mixed cost
• B) variable cost
• C) fixed cost
• D) period cost

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Definitions:

Note Payable

A formal written agreement to pay a specific sum of money at a future date, representing a liability for the borrower.

Maturity Date

The Maturity Date refers to the specified date on which the principal amount of a financial instrument, such as a bond or loan, is due to be repaid.

Journal Entry

A record in the financial ledgers of a company reflecting a business transaction, involving a debit and credit in accordance to double-entry bookkeeping.

FICA Taxes

Taxes imposed on both employees and employers to fund Social Security and Medicare, based in the United States.