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Bezzdna [24]
2 years ago
12

The three methods used to classify costs into their fixed and variable components includes.

Business
2 answers:
luda_lava [24]2 years ago
4 0

The methods used to classify costs into their fixed and variable components are:

  • scatter diagrams
  • high-low method
  • regression analysis

<h3>What is a costs classification?</h3>

This refers to the way by which economic cost are classified for proper purpose and identification.

Majority of fixed and variable cost are classified by using the scatter diagrams, high-low method and regression analysis.

Read more about costs

<em>brainly.com/question/26245657</em>

#SPJ1

sdas [7]2 years ago
4 0

Accountants use the following three methods to classify mixed costs into their fixed and variable components:

  1. High-low method
  2. Scatter graph
  3. Regression analysis.

<h3>What are mixed costs?</h3>

Mixed costs are costs that have both fixed and variable elements.

Fixed (period) costs do not change with changes in the production volume, unlike variable (differential) costs.

Thus, since variable costs are essential for decision-making, management tries to separate mixed costs so that insights into cost structure become clearer using the above three methods.

Learn more about the cost classification methods at brainly.com/question/21053145

#SPJ1

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