7) (6 Points) Classify each of the following costs as 1) either direct or indirect by marking and in the appropriate column (Direct or indirect) for each item and 2) as Variable or Fixed also by marking any in the appropriate column Direct Indirect Variable Fixed Plant Depreciation Direct Labor Plant Utilities 8) ( Points) Lex Furniture produces high-end furniture products for the luxury hotels. Lex has succeeded through excellence in design, high quality manufacturing and customer service. Lex's manufacturing process begins with a close consultation with each customer so that the finished product exactly meets the customer's specifications. This includes unique designs, specialfabrics, and high levels of manufacturing quality. Lex believes that its key competitive edge is the outstanding design staff and strong customer service. 8 Is Lex Furniture's strategy one of product differentiation or cost leadership? Explain why you chose this answer. b. Prepare a value chain for Lex Furniture with a minimum of four specific value chain activities. Explain the purpose of each activity in the value chain ACTIVITY PURPOSE c. Using your value chain analysis, identify an opportunity for Lex Furniture to either add value for customers or reduce cost for Lex