Full cost represents:
A) only semi-variable costs.
B) variable costs.
C) both fixed and variable costs.
D) fixed costs.

Question

Quizplus · Accepted Answer

Full cost includes both fixed and variable costs, which are essential for calculating the total cost of producing goods or delivering services. Semi-variable costs are those costs that have components of both fixed and variable costs, but they are still included in the full cost calculation. Therefore, B and D are incorrect, and A is a subset of C.

Full Cost Represents