PART I (20 Points, 1 Points each) Multiple Choice: Indicate the answer that best completes the opening statement. A variable cost is a cost that a.

PART I (20 Points, 1 Points each) Multiple Choice: Indicate the answer that best completes the opening statement.1. A variable cost is a cost that a. varies per unit at every level of activity. b. occurs at various times during the year. c. varies in total in proportion to changes in the level of activity. d. may or may not be incurred, depending on management's discretion. 2. A cost which remains constant in total at various levels of activity is a a. variable cost. b. fixed cost. c. mixed cost. d. manufacturing cost. 3. Which of the following costs are variable? Cost