How to Analyze Mixed Costs


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question 1 of 3

Identify a fixed cost and a variable cost that are involved in the operation of an automobile.

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1. How is variable cost linked to the number of products a company produces?

2. Mixed cost is a combination of _____.

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About This Quiz & Worksheet

These quiz questions will ask you about the different types of costs that businesses deal with. You'll distinguish these types of costs and identify the variables and equations used to calculate cost.

Quiz & Worksheet Goals

You'll be challenged to:

  • Understand the type of cost that doesn't change in relation to production
  • Identify costs that change in relation to production
  • Combine the two types of costs
  • Define the 'a' variable in a cost equation
  • Know the type of cost that insurance is considered

Skills Practiced

Skills practiced include:

  • Distinguishing differences - be able to tell the difference between costs that do and do not change in relation to production
  • Knowledge application - use what you know about cost equations to identify the meaning of the 'a' variable
  • Reading comprehension - ensure you draw the most important information from the related lesson on mixed cost analysis so you can fully understand the two different cost types

Additional Learning

To further understand this concept, read the related lesson called How to Analyze Mixed Costs. This lesson goes over the following learning objectives:

  • Practice several cost calculations
  • Determine the effect production can have on cost
  • Analyze illustrative examples of cost situations