Question

1. # Given The Following Cost Data, What Type Of Cost Is Shown?

Are you trying to figure out how much your project will cost? You might be asking yourself which type of cost is shown in the following table. Type of Cost = Fixed (Cost does not change regardless of how many items are produced) or Variable (Cost changes depending on how many items are produced) Fixed costs are shown in the table as a single amount, while variable costs are shown as a range (e.g. \$5-10). Which type of cost is shown depends on the type of cost calculation being used.

## Data

In the data set, there are cost data for widgets and fruit. The cost of a widget is \$0.50, while the cost of a piece of fruit is \$0.75.

The cost of a widget is shown as a percentage of the price of a piece of fruit. For example, if the price of a piece of fruit is \$0.75, then the cost of a widget would be 25% (.50/.75).

## Analysis

In this blog post, we will be discussing the different types of costs that can be associated with a project. In order to do this, we will be using the following cost data:

-The cost of materials
-The cost of labor