Match Each Following Terms with Their Correct Description from the Items

question 141

Multiple Choice

Match each following terms with their correct description from the items listed below.
-The range of output over which the assumed cost relationship is valid

• A)Relevant range
• B)Cost behaviour
• C)Driver
• D)Variable cost
• E)Fixed cost

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Definitions:

Machine Minutes

A measurement of time expressing the operation of a machine in minutes.

Unlimited Demand

A theoretical concept where there is no upper limit to the quantity of a good or service that consumers wish to purchase, at a zero price point.

Materials Costs

The cost of raw materials used in the production of goods, a major component of the total manufacturing cost.

Processing Costs

Costs incurred in the course of converting raw materials into finished goods, including labor and overhead expenses.