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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Explain the difference between committed and discretionary fixed costs. Give examples of each.

To determine

Explain the difference between committed and discretionary fixed cost and substantiate with examples.

Explanation

Fixed Cost:

Cost which is not influenced by the production volume in short run is known as fixed cost. In other words, fixed cost is the cost which remains same in short term but can be changed in long run. Some examples of fixed costs are salaries, office rent and property tax.

Committed cost is the fixed cost that cannot be curtailed or avoided by the business...

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