In describing the cost equation, Y = a + bX, the "bX" is: A) the independent...
In describing the cost equation, Y = a + bX, the "bX" is:
A) the independent variable level of activity.
B) the total mixed cost.
C) the total variable cost.
D) the variable cost per unit of activity.
Homework Answers
Cost equation, Y = a + bX
Here, Y is the total cost of operation.
a is the fixed cost.
b is the variable cost per unit.
and X is the level of activity or the number of units produced.
Thus, bX represents total variable cost (Variable cost per unit x number of units produced)
Correct option is (C)
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