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Understanding the differences in the behavioral characteristics of costs, and the methodologies used to account for them has a significant impact on the results of

Understanding the differences in the behavioral characteristics of costs, and the methodologies used to account for them has a significant impact on the results of analysis and ultimate operational decision making. Explain the difference between fixed and variable costs and the impact on decision making of an accurate understanding of the differences. Also, explain the difference between variable costing and absorption costing and the relevance of the difference to operational decision making.

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