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What are the characteristics of discretionary fixed costs? Multiple Choice They vary directly and proportionately with the level of activity. They have a long-term planning horizon, generally encompassing many years. They are made up of plant, equipment, and basic organizational costs. None of the choices are correct. Reddy Company has the following cost formulas for overhead: Based on these cost formulas, what is the expected total overhead cost at 600 machine hours? Multiple Choice $4,500 $5,200 $5,620 $5,340 The linear equation Y=a+bX is often used to express cost formulas. Which of the following representations in this equation is correct? Mulsiple Choice The term ' b ' represents variable cost per unit of activity. The term ' a ' represents variable cost in total. The term ' X ' represents total costs. The term ' Y ' represents total fived costs