ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. (PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION) DIRECT COSTS VS INDIRECT COSTS
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- Explain the differences among fixed costs, variable costs, and mixed costs.Explain the difference between direct costs and indirect costThe cost that is used for the benefit of many cost objects and cannot be easily related to any specific cost object: Select one: O a. Fixed cost O b. Indirect cost O c. Direct cost d. Variable cost
- Compute for the total cost accounted for using FIFO.. a. Give suitable explanation on (i) Cost; (ii) Cost Objects; (iii) Cost Driver Discuss the different forms of Cost ClassificationSelect all of the following that are the same as a relevant cost: unavoidable cost avoidable cost O differential cost differential benefit O important cost