Mixed Costs Are

question 34

Multiple Choice

Mixed costs are

• A)costs with both indirect and direct elements.
• B)costs with both product and period elements.
• C)costs with both fixed and variable elements.
• D)none of these.

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Definitions:

Output

The total amount of goods or services produced by an individual, company, or country.

Total Variable Cost

The sum of all costs that vary with output level in the production process.

Marginal Cost

The augmentation in cost due to the manufacture of one additional unit of a product or service.

Total Variable Cost

The sum of all costs that vary with the level of output, including materials and labor directly involved in production.