A plant's production varies from 1,500 to 2,500 units per day. The plant and associated warehouse...
A plant's production varies from 1,500 to 2,500 units per day. The plant and associated warehouse are 120,000 SF and employ 500 people in three shifts. Which of the following are a FIXED cost for the plant? ]
Labor
General liability insurance
Materials
Utilities
Homework Answers
General liability insurance and Utilities are fixed cost. And Labor and materials are variable cost of the plant.
Explanation: Fixed cost are those cost which are invariant with change in quantity produced.
Insurance changes periodically and is not dependent on the quantity produced.
Similarly utility like electricity cost, water cost are charged periodically but does not vary with quantity produced.
Whereas on the other hand, variable cost is the cost which changes with the change in quantity produced. Like material used and labor employed. If the business output increases more labour and material is required.
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A plant's production varies from 1,500 to 2,500 units per day.
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