Question

Variable costs refer to the costs of __________ that can easily be increased or decreased in a __________ period. g

Answer 1

Answer:

outputs, short

Explanation:

Variable costs is an expense which changes as production output changes. When production is increasing, variable cost is increasing and when production is decreasing, variable cost is decreasing as well.

Variable costs can be seen as short-term as it can be adjusted.

Examples of variable costs are: utility costs, costs of raw materials, direct labor costs, etc.