Exercise 21-1 Classification of costs as fixed or variable LO P1 PAK Company manufactures and sells mountain blkes. It normally operates elght hours a day five days a week. Using this Information, classify each of the following costs as fixed or variable with respect to the number of bikes made. Item Cost a. Bike frames b. Screws for assembly c. Direct labor d. Taxes on property e. Bike tires f. Gas used for heating g. Office supplies h. Depreciation on tools i. Management salaries