Question 3 1 pts Which of the following statements about variable (and fixed) cost are true? 1. Unlike fixed costs, variable costs are not subject to a relevant range of output volume) 2. While misclassifying a variable cost item as a fixed cost item will result in inaccurate cost projections, misclassifying a fixed cost item as variable cost item will not result in inaccurate cost projections 3. An organisation's total variable cost will always stay the same from one year to the next if its level of output in both years is the same. Statement 1 only Statement 2 only O Statement 3 only Statement 1 and 3 only None of the statements are true 1 pts Question 4 Which of the following statements about fixed cost are true? 1. An organisation's total fixed cost will likely increase if output increases to a level that is above the organisation's relevant range of output volume. 2. An organisation's total fixed cost will always stay the same from one year to the next if the level of output is within the organisation's relevant range of output volume in both years 3. An organisation's fixed cost per unit of output will increase if output increases to a level that is still within the organisation's relevant range of output volume Statement 1 only Statement 2 only Statement 1 and 3 only Statement 1 and 2 only Statement 1.2 and 3