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For each of the following categories,give two examples of financial statement ratios that fit within that category.
a.Short-term liquidity ratios
b.Long-term solvency ratios
c.Profitability ratios
d.Market price and dividend ratios
True Variable Cost
Costs that vary directly and proportionally with the level of production output, without any fixed component.
Total Variable Inspection Cost
The cumulative cost that varies directly with the volume of production or service, specifically related to the inspection of products or services to ensure quality.
Variable Inspection Cost
The expenses associated with quality control measures that fluctuate with the volume of production.
Machine-Hours
A measure of production output or activity based on the number of hours that machines are operated.
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