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Discretionary fixed costs often involve a long-term contract.
12.As output increases, variable cost per unit will also increase.
13.A variable cost increases in total and per-unit when output increases.
14.Mixed costs have both a fixed and a variable component.
15.Total variable costs = variable rate ? amount of output.
16.The high-low method is the most accurate method to separate the cost behaviour of a mixed cost.
17.The slope of a mixed cost line is equal to the fixed element of the cost.
18.Using the high-low method, the calculation of the cost line uses the highest and lowest cost periods.
19.Calculation of the cost line using the high-low method tests the lowest cost period to see if it is an outlier.
20.“Outliers” are points that do NOT seem to fit the general pattern of behaviour.
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