Question

Classify the following into fixed cost and variable cost.

Answer 1

Answer:

Variable costs vary based on the amount of output, while fixed costs are the same regardless of production output. Examples of variable costs include labor and the cost of raw materials, while fixed costs may include lease and rental payments, insurance, and interest payments.

Answer 2

Explanation:

fixed costs are time related they remain constant for a period of time .variable cost are volume related and change with the changes in out put level . Deprection , interest paid on capital , rent , salary, sell ,taxes etc ., commission sells credit, card fees , wages of part time staff etc..,

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