Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Classify the following planned costs as: (A) purely variable costs (B) mixed costs (C) step costs (D) discretionary fixed costs (E) committed fixed costs ___

Classify the following planned costs as:

(A) purely variable costs

(B) mixed costs

(C) step costs

(D) discretionary fixed costs

(E) committed fixed costs

___ 1. Payment on long-term mortgage loan.

___ 2. Electricity used in operating equipment.

___ 3. A lump sum amount of advertising costs planned by a local restaurant.

___ 4. Nursing supervisors' salaries (a supervisor is needed for every 10 nurses).

___ 5. Costs for personnel training.

___ 6. Payment to a consulting firm.

___ 7. Shipping costs.

___ 8. Repairs of plant equipment.

___ 9. Property taxes.

___ 10. Insurance on factory machines.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions