TB MC Qu. 2-77 (Static) Which of the following statements is (are)... Which of the following statements is care) true? (1) The term full cost refers to the cost of manufacturing and selling a unit of product and includes both fixed and variable costs (2) The fixed cost per unit is considered constant despite changes in volume of activity within the relevant range Multiple Choice Only (1) is true Only (2) is true Both of these are true None of these are true