Exercise 22-3 Family Furniture Corporation incurred the following costs. Identif

Question

Exercise 22-3 Family Furniture Corporation incurred the following costs. Identify the below costs as variable, fixed, or mixed. 1. Wood used in the production of furniture. 2. Fuel used in delivery trucks. 3. Straight-line depreciation on factory building. 4. Screws used in the production of furniture. 5. Sales staff salaries. 6. Sales commissions. 7. Property taxes. 8. Insurance on buildings. 9. Hourly wages of furniture craftsmen. 10. Salaries of factory supervisors. 11. Utilities expense. 12. Telephone bill.

Explanation / Answer

1) Wood used in the production of furniture Variable 2) Fuel used in delivery trucks Variable 3) Straight-line depreciation on factory building fixed 4) Screws used in the production of furniture Variable 5) Sales staff salaries Fixed 6) Sales commissions variable 7) Property taxes fixed 8) Insurance on buildings fixed 9) Hourly wages of furniture craftsmen Variable 10) Salaries of Factory supervisors fixed 11) Utilities expense mixed 12) Telephone bill mixed

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