Toyota Motor Corporation uses batch costing for vehicle manufacturing. In January 2032, the company produces 5 batches of cars with the following costs:

• Batch 1: Direct materials $50 million, Direct labor $25 million, Factory overhead $20 million
• Batch 2: Direct materials $52 million, Direct labor $26 million, Factory overhead $21 million
• Batch 3: Direct materials $51 million, Direct labor $25.5 million, Factory overhead $20.5 million
• Batch 4: Direct materials $55 million, Direct labor $27 million, Factory overhead $22 million
• Batch 5: Direct materials $58 million, Direct labor $28 million, Factory overhead $23 million

Required:

• Classify each cost as variable or fixed.
• Calculate the total variable costs for each batch.
• Determine the total fixed costs for all batches produced.
• Analyze the cost structure of Toyota Motor Corporation using batch costing.
• Prepare a batch costing statement focusing on variable and fixed costs for Toyota Motor Corporation.