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fixed and variable costs

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For furniture business, or your work group, prepare a list of all possible costs. For each, indicate if it is fixed or variable. If it is variable, indicate if it can be controlled within three months time.
Does this firm have full control of its selling price, partial control, or must it accept the price that already exists in the market? How does the market price get set?
Does the company's financial manager use variable costing or full costing when it evaluates its products?

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This job determines fixed and variable costs.

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For furniture business, or your work group, prepare a list of all possible costs. For each, indicate if it is fixed or variable. If it is variable, indicate if it can be controlled within three months time.
Does this firm have full control of its selling price, partial control, or must it accept the price that already exists in the market? How does the market price get set?
Does the company's financial manager use variable costing or full costing when it evaluates its products?

Solution:
Total expenses consist of two cost components: fixed costs and variable costs.
Fixed costs are those expense items which generally do not change in the short run, regardless of how much we produce or sell. These costs are typically the expenses you pay out regularly that do not go up or down with our sales level. ...

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