[S] For each of the following cost classification terms, give a definition and give one example of
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[S] For each of the following cost classification terms, give a definition and give one example of how the definition applies in practice to a person providing car repairs from a rented garage:
(a) variable cost;
(b) fixed cost;
(c) semi-variable cost;
(d) step cost;
(e) direct cost;
(f ) indirect cost;
(g) product cost; and
(h) period cost.
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