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Selling 1,000 cups of coffee per day, the total annual fixed costs of the Starbucks in Richmond town was $400,000 in 2020. In 2021, the
Selling 1,000 cups of coffee per day, the total annual fixed costs of the Starbucks in Richmond town was $400,000 in 2020. In 2021, the sales volume of coffee increased by 25% (sales of other products did not change). Given this information, we know that the total costs in 2021 was $400,000 plus the total variable costs in that year. True or False?
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