LESSON OBJECTIVE
Assessment Criteria AC 1.1 Classify different types of cost Below are questions pertaining to lesson 1. Please ensure to answer each question correctly. 1. What is the difference between a fixed cost and a variable cost? 2. Who are the primary users of Management Accounting information? 3. How useful is management accounting information? 4. Give two (2) main differences between Management Accounting and Financial Accounting.
Chevon Murray
9/18/2016 10:43:34 am
1)according to Bragg (2015) the difference between fixed and variable cost is that fixed cost do not change with activity volumes , while variable cost are closely link with activity volumes.
Dalene cushnie
9/18/2016 07:10:09 pm
1, fixed cost is constant regardless of the output and variable cost changes as the output changes.
shanique davis
9/18/2016 09:25:43 pm
1. A fixed cost is a cost that does not change with an increase or decrease in the amount of goods or services produced or sold.variable cost are flexible cost that can change at any given second.
Nicole Webb
9/20/2016 12:04:00 pm
1) 9/20/2016 12:04:50 pm
1) 9/20/2016 12:05:56 pm
1) 9/20/2016 03:41:08 pm
1. What is the difference between fixed cost and a variable cost?
Christopher Cameron
9/20/2016 05:27:22 pm
1) Variable cost changes depending on the amount of output whereas fixed cost do not change at all (Surbhi, 2015).
Nicole webb
9/21/2016 03:25:38 pm
1)
Taisha Lewis
9/23/2016 10:31:54 pm
1. The difference between a fixed cost and a variable cost is that with fixed cost it will remain constant at all times during the production process because it does not depend on production level at any given time. Some examples of fixed cost are rent and salaries. While variable cost is a cost that changes with the production level, it will increase if the production is high and decrease if it is low. Some examples are packaging expenses and material consumed. Fixed cost is time related while variable cost is volume related. Comments are closed.
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