________ costs are a function of volume, not time.
A) Fixed operating
B) Semi-variable
C) Variable
D) Fixed financial

Question

Quizplus · Accepted Answer

Variable costs vary with changes in volume, meaning they are directly proportional to the quantity of goods or services produced. They can be expressed as a cost per unit or as a total cost. Fixed operating costs, on the other hand, do not change with changes in volume, while semi-variable costs have elements of both fixed and variable costs. Fixed financial costs refer to expenses such as interest on loans, which do not vary with changes in volume or time.

________ Costs Are a Function of Volume, Not Time