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The relevant range refers to the level of activity or volume within which fixed and variable cost behavior remains consistent. It is the range of production or sales levels where the assumptions about cost behavior, such as fixed costs remaining constant and variable costs per unit being stable, are valid. Outside this range, costs may change, potentially leading to different cost structures and affecting decision-making. Understanding the relevant range is crucial for budgeting, forecasting, and cost management.
What else can I help you with?
Explain the concept of validity and reliability?
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What does transfer of training mean explain in detail with relevant examples?
There is no such thing
How do you explain a question on Answer?
To explain a question on Answer, first, clearly identify the main concept or issue being addressed. Then, break down the components of the question, providing context and relevant background information. Finally, offer a concise and direct response, ensuring it is clear and understandable for the audience. Use examples or analogies if necessary to enhance comprehension.
What is relevant range and why is it important?
The relevant range refers to the activity level within which fixed and variable cost behaviors remain consistent. It is important because decisions regarding budgeting, forecasting, and cost management are based on expected production or sales levels within this range. Outside the relevant range, costs may change, leading to inaccurate financial projections and potentially poor decision-making. Understanding the relevant range helps businesses maintain effective cost control and resource allocation.
What part of the theory of evolution by natural selection would explain why there are no wild wolves that resemble daschunds?
The relevant concept is that of the ecological niche. The daschund is adapted to the niche of being a pet for humans, and it would be very badly adapted for the niche of being a predator in the wild.
The relevant range concept is not applicable to mixed costs?
false.
Explain different ways of evaluating work methods against a range of technical criteria and relevant project criteria?
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Relevant range of activity?
The relevant range of activity refers to a the current level of production. If production drops or increases, then the relevant range will change.
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Why relevant range important?
outside the relevant range, variable cost and fixed cost behaviors patterns may change
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