The Following Is an Extract of a Cost Report for Big

question 52

Multiple Choice

The following is an extract of a cost report for Big Whale Car Wash for the six months from June to November. Management considers the activities in these six months as within the relevant range for the purpose of cost estimation.
The car washing labour cost is a:

• A) variable cost.
• B) fixed cost.
• C) step-fixed cost.
• D) Semi-variable cost.

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Definitions:

Socioeconomic Status

An aggregate measure of an individual or family's economic and social position relative to others, based on income, education, and occupation.

Generalized

The process by which conclusions are drawn from specific instances to broader contexts or situations.

External Validity

The scope of applicability of research results to different settings and to a wider audience.

External Validity

The extent to which the findings of a study can be generalized to other settings, populations, or times.