Question: 5-3.) Define the following terms: (a) cost behavior and (b) relevant range. 5-4.) What is meant by an activity base when dealing with variable costs?

5-3.) Define the following terms: (a) cost behavior and (b) relevant range. 5-4.) What is meant by an activity base when dealing with variable costs? Give several examples of activity bases. 5-5.) Distinguish between (a) variable cost, (b) a mixed cost, and (c) a step-variable cost. Plot the three costs on a graph, with activity plotted horizontally and cost plotted vertically

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