Describe the cost formula for a strictly fixed cost

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Reference no: EM13940377

1. Explain the difference between committed and discretionary fixed costs. Give examples of each.

2. Explain why the concept of relevant range is important when dealing with step costs.

3. Why do mixed costs pose a problem when it comes to classifying costs into fixed and variable categories?

4. Describe the cost formula for a strictly fixed cost such as depreciation of $15,000 per year.

Reference no: EM13940377

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