1. In a well-developed essay, explain the five types of cost behavior. In what way do they relate to one another? Explain each of them in detail, and provide examples of each one.
2. Administrative costs have a tendency to vary from year to year; this is known as variable cost. Managers must have a good understanding of the difference between variable and fixed costs. Based on your understanding of the course material, write a well-developed essay explaining the differences between variable costs and fixed. Provide evidence and examples of each.