Multiple Choice Questions: please choose the letter of the correct answer (1) The term "relevant range" means the range within which: A. costs may fluctuate. B. a cost formula is valid. C. production may vary. D. relevant costs are incurred. (2) An example of a committed fixed cost is: A. a training program for salespersons. B. executive travel expenses. C. property taxes on the factory building. D. new product research and development. (3) Why is it important to separate mixed costs into fixed and variable portions? A. Mixed costs perform like variable costs. B. The accuracy of budgets may be reduced if mixed costs are fully allocated to either the fixed or variable cost pools. C. Mixed costs perform like fixed costs. D. Mixed costs need to be removed from consideration in budgeting