Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Select an industry, such as the restaurant industry, the online retail industry or the car manufacturing industry. It can be one of these 3
1. Select an industry, such as the restaurant industry, the online retail industry or the car manufacturing industry. It can be one of these 3 or a different one. Provide a brief overview of the industry. 2. Identify and describe at least 2 variable, 2 fixed and 2 mixed costs generally associated with this industry. For each cost, explain why they were classified as variable, fixed or mixed costs. a. A useful article that lists different costs for a variety of industries is found at the following link: https://bench.co/blog/accounting/fixed-vs-variable-costs/ 3.analyze how these costs would impact the financial viability of companies that conduct business within these industries. In so doing, students can answer the following questions or other relevant questions that they create: a. Are there too many fixed / variable / mixed costs or are the individual costs too expensive? b. Would a company in this industry likely be able to survive a significant drop in revenue? c. Do you think that these costs will change significantly over the next 5 years? Why
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started