This week you were introduced to managerial accounting and cost methods. Review the short video above Fixed and Variable (Semi-variable or mixed costs) above and using that information and your research, discuss the differences between fixed, mixed and variable costs by providing two examples of each type of cost as they relate to a company you have worked for in the past, currently work for, or plan to work for in the future. Why do you think it is important for managers of this organization to understand the differences in these costs (be sure to provide a specific related example)?
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