The Relevant Range (Cost Accounting Tutorial #4)

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⌚Timestamps
0:00 - Introduction
0:32 - Relevant range definition
1:00 - How costs change within the relevant range
1:56 - Fixed costs and the relevant range (example #1)
4:10 - Variable costs and the relevant range (example #2)
5:44 - Cost functions and the relevant range

The relevant range is a range of activity where there is a specific relationship between costs and cost drivers. For example, we know that total fixed costs (not to mix up with fixed cost per unit!) and variable costs per unit (not to mix up with total variable costs!) will be constant across the relevant range. Enjoy the lesson!

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