How to prepare income statements using bothin Other (Other) by wisdomrays
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How to prepare income statements using both absorption and variable costing Team C Week 3 Reflection Eric Ducote Learning to distinguish among fixed and variable costs was a relatively easy task. Fixed cost are costs that remains stable regardless of any changes. Cost per item may stay the same, but with the change of unit quantity the cost will increase. An example of a fixed cost will be the mill rate in computing property tax. The mill rate is constant but the assessed value of the homes may be different. Variable costs are costs that will change according to the changes in the levels of activity. Direct material, direct labor, and cost of goods sold, are examples of variable costs. The cost of goods sold (manufactured) is not a set figure that is a reliable number, but it is a...