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Fixed and Variable Costs (Semi-variable or mixed costs)
Review the short video above.
This week you were introduced to managerial accounting and cost methods. Discuss the differences between fixed, mixed, and variable costs by providing two examples of each type of cost as they relate to a company you have worked for in the past, currently, work for, or plan to work for in the future. Why do you think it is important for managers of this organization to understand the differences in these costs (be sure to provide a specific related example)?