Explain the difference between normal and expedited costs, fixed and variable costs, and recurring or nonrecurring costs. Create a 2 × 2 × 2 matrix and provide one example each (8 total examples) of each combination of these costs
What will be an ideal response?
Examples may vary.
Nonrecurring costs might be those charges applied once at the beginning or end of the project while recurring costs are those that typically continue to operate over the project's life cycle. Fixed costs do not vary with their usage but variable costs accelerate through usage. Normal costs are those incurred through the routine process of working to complete the project according to the original schedule but expedited costs are unplanned costs incurred when steps are taken to speed up the project's completion.
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