Use the Following to Answer Question

question 64

Essay

Use the following to answer question:
Figure 15.12
-(Figure 15.12) Answer the following questions.

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Definitions:

Net Income

The total earnings of a person or organization after subtracting all expenses and taxes.

Variable Costs

Costs that change in proportion to the level of activity or volume of production in a company.

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and insurance.

Variable Costs

Costs that change in proportion to the level of activity or volume of production.