ANSWER THE FOLLOWING:

COST CONCEPTS AND DESIGN ECONOMICS

Diagnostic Quiz on Cost Classification: Review Questions Classify each of the following cost items as mostly fixed or variable cost. Write F for fixed cost and V for variable cost on the space provided on the left of the cost being classified. _ Raw Material _ Administrative Salaries _ Direct Labor Payroll Taxes _ Depreciation _ Insurance of building __Supp|ies __ Clerical salaries _ Utilities Sales commission _ Property Tax Rent