The break-even point is where total sales equals:

Select one:

a. total variable costs minus profit.

b. fixed costs plus profit.

c. total variable costs.

d. total costs.

variable cost is a cost that:

Select one:

a. occurs at various times of the year.

b. may or may not be incurred depending on management's discretion.

c. all of the options are correct.

d. varies with changes in activity.