Homework Answers
Ans: Variable costs change in accordance with changes in sales volume. Fixed costs do not change with changes in sales volume. Mixed costs are costs that made up of fixed and variable elements.
| Particulars | Types of cost |
| Factory rent | Fixed Cost |
| Wages for workers paid based on units produced | Variable cost |
| Equipment Maintenance | Mixed cost |
| Cost Accountant's Salary | Fixed cost |
| Depreciation based on output | Variable cost |
| Salary of factory Supervisor | Fixed cost |
| Telephone(Monthly) | Mixed cost |
| Paper in the manufacture of books | Variable cost |
| Wages of machine Operators | Variable cost |
| Commission of salesman | Variable cost |
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Classify each cost as variable, fixed, or mixed. 1. Insurance on the buildings FixedVariableMixed 2. Property...
Classify each cost as variable, fixed, or mixed.
1.
Insurance on the buildings
FixedVariableMixed
2.
Property tax bill
VariableMixedFixed
3.
Sales commission
FixedMixedVariable
4.
Nails used to produce furniture
FixedVariableMixed
5.
Fuel needed to operate the machinery
MixedVariableFixed
6.
Hourly wages of the assembly-line workers
MixedVariableFixed
7.
Rental of U-Haul charged based on daily rate plus km
driven
VariableMixedFixed
8.
Depreciation on the building
FixedMixedVariable
9.
Rent paid for office space
MixedFixedVariable
10.
Maintenance costs of delivery vans
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Classify the following items as variable (V), fixed (F), or mixed (M): Rent for the factory building OV。F。M Depreciation on production equipment Ov OF OM Production managers' salaries Ov OF OM Production workers' wages OV。F。M Cost of materials used in production Ov OF OM Fire insurance for the plant OV。F。M Sales commissions (3% of sales) Ov OFC) M Sales managers' total compensation (salary + sales commissions) Ov OF OM
Classify each cost as variable, fixed, or mixed.
1.
Insurance on the buildings
FixedVariableMixed
2.
Property tax bill
VariableMixedFixed
3.
Sales commission
FixedMixedVariable
4.
Nails used to produce furniture
FixedVariableMixed
5.
Fuel needed to operate the machinery
MixedVariableFixed
6.
Hourly wages of the assembly-line workers
MixedVariableFixed
7.
Rental of U-Haul charged based on daily rate plus km
driven
VariableMixedFixed
8.
Depreciation on the building
FixedMixedVariable
9.
Rent paid for office space
MixedFixedVariable
10.
Maintenance costs of delivery vans
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2. Identify each cost as Variable (V) or Fixed (F) AND as Direct Selling/Administrative Expense (SGA) for the furniture maker Couch Pota Example: Material/Labor (D),Factory Overhead (OH FSGA Salary of Chief Financial Officer ELAL Maintenance Supplies Plywood ID Carpenter's Wages -Utilities-Headquarters VID Upholstery/Material Depreciation -Factory F Forklift Driver Salary Furniture Painter's Wages Propane for heating glue Financial Auditing fees Copy paper for Sales Office Couch seat cushions Salesman Annual Bonus Unemployment Taxes for Painters /SGh Corporate Office Supplics Blades for...
2. Identify each cost as Variable (V) or Fixed (F) AND as Direct Material/Labor (D, Factory Overhead (OH) or Selling/Administrative Expense (SGA) for the furniture maker Couch Potato, LLC. (10 pts Total) Example: /SGA Salary of Chief Financial Officer Lon MantenanceSupplies Oh Plywood F 0 I Carpenter's Wages Utilities -Hcadquarters Di Depreciation - Factory Upholstery/Material Forklift Driver Salary S6A Corporate Office Supplies Furniture Painter's Wages Propane for heating glue machines SSA Financial Auditing fees HBlades for Carpenter's Knives Uniforms for...
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