Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable

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Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost.

A. Wages of administrative staff

B. Shipping costs on merchandise sold

C. Wages of workers assembling computers

D. Cost of lease on factory equipment

E. Insurance on factory

F. Direct materials used in production of lamps

G. Supervisor salary, factory

H. Advertising costs

I. Property taxes, factory

J. Health insurance cost for company executives

K. Rent on factory

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Principles Of Accounting Volume 2 Managerial Accounting

ISBN: 9780357364802

1st Edition

Authors: OpenStax

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Question Posted: Jul 19, 2023 05:41 AM

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Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable

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Cost Classification A Wages of administrative staff Fixed Cost No matter how many units are produced or sold the wages of administrative staff remain relatively constant Period Cost These wages are in...View the full answer

Principles Of Accounting Volume 2 Managerial Accounting

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