Variability and traceability (LO3). The following are some common statements that we find students making. • A variable cost is always controllable. • A fixed cost is always noncontrollable. • A...

• A variable cost is always controllable.

• A fixed cost is always noncontrollable.

• A direct cost is always a variable cost.

• Fixed costs are always indirect.

• Virtually every cost is variable with respect to some activity.

Required:

Classify each statement as True or False, and justify your response.