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1. Define and provide examples of Variable Costs, Fixed Costs, and Mixed (Semi variable) Costs. 2. Why is a Flexible Budget a better management tool
1. Define and provide examples of Variable Costs, Fixed Costs, and Mixed (Semi variable) Costs.
2. Why is a Flexible Budget a better management tool than a Static Budget?
3. Explain the difference between the High-Low Method and a Regression Analysis and describe a
scenario in which the High-Low Method may produce a better analysis than a Regression
Analysis.
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