Answered step by step
Verified Expert Solution
Link Copied!

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions

Question

What are some of the topics they study?

Answered: 1 week ago

Question

3 > O Actual direct-labour hours Standard direct-labour hours...

Answered: 1 week ago