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1. Describe the difference between a "fixed cost and a "variable" cost in a production setting. Use examples if you wish. I 2. You are in charge of a charity's fundraising campaign in which you're selling tickets for a chance to win a new home. Here are your cost details: House's total purchase price to your organization: $181,000 advertising campaign: $29,000 printing cost per ticket: $5. All taxes and fees are included in the above figures. Based on the above costs, how many tickets do you have to sell at $75 a piece to break even? I 3. Describe the difference between a positive/favorable" variance versus a negative/ unfavorable"variance. 4. Fill in the blanks: For each of the following costs, classify them as "typically fixed or variabl. from the perspective of the business owner: Pepperoni in a pizza restaurant Renting a store Advertising