Fixed cost V [ Choose ] all costs that are incurred over the life of a product, process, or service expenses that are anticipated and occur at regular intervals Variable cost money already spent based on a past decision depends on the level of output or activity associated with using a resource in one activity instead of another Sunk cost remains constant (unchanged) regardless of the level of output
Fixed cost V [ Choose ] all costs that are incurred over the life of a product, process, or service expenses that are anticipated and occur at regular intervals Variable cost money already spent based on a past decision depends on the level of output or activity associated with using a resource in one activity instead of another Sunk cost remains constant (unchanged) regardless of the level of output
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
Related questions
Question
![Match each cost term to its definition.
Fixed cost
V [Choose ]
all costs that are incurred over the life of a product, process, or service
expenses that are anticipated and occur at regular intervals
Variable cost
money already spent based on a past decision
depends on the level of output or activity
associated with using a resource in one activity instead of another
Sunk cost
remains constant (unchanged) regardless of the level of output
Opportunity cost
[ Choose ]
Recurring costs
[ Choose ]
Life-cycle costs
[ Choose ]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F27923e60-6d33-4bf6-be3c-2577d5923254%2F4b2ae3d3-4cb5-4b8c-97b4-24f81ae01e70%2Fk35buyq_processed.png&w=3840&q=75)
Transcribed Image Text:Match each cost term to its definition.
Fixed cost
V [Choose ]
all costs that are incurred over the life of a product, process, or service
expenses that are anticipated and occur at regular intervals
Variable cost
money already spent based on a past decision
depends on the level of output or activity
associated with using a resource in one activity instead of another
Sunk cost
remains constant (unchanged) regardless of the level of output
Opportunity cost
[ Choose ]
Recurring costs
[ Choose ]
Life-cycle costs
[ Choose ]
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