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Identify example of a fixed cost and a variable cost

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Reference no: EM133171199

a) Identify an example of a 'fixed' cost' and a 'variable' cost from the spreadsheet and explain why you believe they are a variable cost or a fixed cost.

b) Explain why it is important for the Lucro Island Hotel management team to be able to recognise the difference between fixed costs and variable costs. Use an example from the spreadsheet to help illustrate your answer.

Reference no: EM133171199

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