Go to www.YouTube.com and search for How It's Made, a television show produced by the Discovery Channel that shows how thousands of products and services are created. Find a product that interests you and answer the following questions: 1. What product did you choose and how is it made? 2. Identify two variable costs of making this product. What makes it a variable cost? 3. Identify two fixed costs of making this product. What makes it a fixed cost? 4. Identify one step cost of making this product. What makes it a step cost? 5. Identify one mixed cost of making this product. What makes it a mixed cost? 6. Describe how a company would determine the cost of making this product under full absorption costing. What costs would be included in cost of goods sold and finished goods inventory? What costs would be treated as operating expenses? 7. Describe how a company that makes this product would compute gross margin and contribution margin. 8. Will gross margin and contribution margin always be the same? Why or why not?

ACT 2300 PROJECT: IDENTIFYING COST BEHAVIOR You will be completing the following \"Skills Development Cases\" found at the back of Chapters 5 in your textbook that incorporate current issues in managerial accounting: SKILLS DEVELOPMENT CASES LO 5-S1 S5- Video Case Assignment: Identifying Cost Behavior and Predicting Difference in 1 Variable and Absorption Costing comp:marginal text LO 5-S1 Go to www.YouTube.com and search for How It's Made, a television show produced by the Discovery Channel that shows how thousands of products and services are created. Find a product that interests you and answer the following questions: 1. 2. 3. 4. 5. 6. 7. 8. What product did you choose and how is it made? Identify two variable costs of making this product. What makes it a variable cost? Identify two fixed costs of making this product. What makes it a fixed cost? Identify one step cost of making this product. What makes it a step cost? Identify one mixed cost of making this product. What makes it a mixed cost? Describe how a company would determine the cost of making this product under full absorption costing. What costs would be included in cost of goods sold and finished goods inventory? What costs would be treated as operating expenses? Describe how a company that makes this product would compute gross margin and contribution margin. Will gross margin and contribution margin always be the same? Why or why not? Answer all 8 questions. Keep in mind that I am looking for WELLWRITTEN, WELLORGANIZED, HIGH QUALITY responses that show a thorough understanding of the case. There is no specific length requirement as long as you are sure to address all requirements of each case in a thoroughly proofread, quality form