Analyze personal expenses on a variable and fixed basis

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9. How do variable costs and fixed costs differ? Give an example of each.

10. Analyze your personal expenses on a variable and fixed basis. What are some of your personal fixed costs and variable costs? What would cause them to change?

11. What is C-V-P analysis used for? In the process of using C-V-P analysis, what does it mean to "break even"?

17. What is the difference between a direct cost and an indirect cost? Give an example of each in the context of teaching an accounting class at your school.

19. How can out-of-pocket costs and opportunity costs be applied to your personal financial decisions?

Reference no: EM1359998

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