Question

Variable costs varies according to the level of production. Fixed costs remains constant irrespective of level of production. Mixed cost involves both variable and fixed expenses. Step cost refers to costing in which the amount is constant up to a limit and increases suddenly when crosses the limit.

Name: variable costs varies according to the level of production fixed costs remains constant irrespective of level of production mixed cost involves both variable and fixed expenses step cost ref 63962
Uploaded: 2022-07-09T13:10:25-08:00
Duration: 1 min 23 s
Channel: Haricharan Gupta
Description: variable costs varies according to the level of production fixed costs remains constant irrespective of level of production mixed cost involves both variable and fixed expenses step cost ref 63962

          Variable costs varies according to the level of production.
Fixed costs remains constant irrespective of level of production.
Mixed cost involves both variable and fixed expenses.
Step cost refers to costing in which the amount is constant up to a limit and increases suddenly when crosses the limit.

Added by Crystal O.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Haricharan Gupta

07/09/2022

Step 1

** Show more…

Show all steps

Thanks for your feedback!

Variable costs varies according to the level of production. Fixed costs remains constant irrespective of level of production. Mixed cost involves both variable and fixed expenses. Step cost refers to costing in which the amount is constant up to a limit and increases suddenly when crosses the limit.