Common examples of variable costs include costs of goods sold (COGS) , raw materials and inputs to production, packaging, wages, and commissions, and certain utilities (for example, electricity or gas that increases with production capacity).
Which of the following are variable expense?
Examples of variable costs
Credit card and bank fees . Hourly wages and direct labor . Shipping costs . Raw materials .
Which of the following is variable expense?
Common examples of variable costs include costs of goods sold (COGS) , raw materials and inputs to production, packaging, wages, and commissions, and certain utilities (for example, electricity or gas that increases with production capacity).
Which is an example of a variable expense quizlet?
What are examples of variable costs? Cost of goods sold for a merchandising company, direct materials, direct labor , variable elements of manufacturing overhead, and selling and administrate costs such as commissions and shipping costs.
Which of the following are examples of variable essential expenses?
Examples of variable expenses include groceries, dining out, utilities, gas , personal care items, household supplies, medical/health expenses, entertainment, clothing, babysitting, ride sharing, gifts and donations. Variable expenses can be essential, like in the case of groceries, utility bills and gas.
Is rent a fixed or variable expense?
The most common examples of fixed costs include lease and rent payments, utilities, insurance, certain salaries, and interest payments.
Is rent a variable expense?
Fixed expenses: These are costs that largely remain constant, such as your monthly rent. Variable expenses: These are costs that vary or are unpredictable , such as dining out or car repairs.
Is food a fixed or variable expense?
A variable expense is one that fluctuates each month. Some examples of variable expenses you may have can include: ... Food expenses.
What is a fixed expense example?
Common examples of fixed costs include rental lease or mortgage payments, salaries, insurance, property taxes, interest expenses, depreciation , and potentially some utilities.
What are fixed and variable costs examples?
If a company rents a warehouse, it must pay rent for the warehouse whether it is full of inventory or completely vacant. Other examples of fixed costs include executives' salaries, interest expenses, depreciation, and insurance expenses . Examples of variable costs include direct labor and direct materials costs.
What is an example of a fixed expense quizlet?
A fixed variable expense is a cost that you pay every month, but the amount can change from month to month. (A good example of this is your electric bill . ... Meanwhile, you always need to pay your electric, water, or any other utility bill, making it a fixed cost – a staple in your budget.)
Which is an example of a fixed cost quizlet?
Examples of fixed costs include straight-line depreciation, insurance, property taxes, rent, supervisory salaries, administrative salaries , and advertising. Unlike variable costs, fixed costs are not affected by changes in activity.
What is a variable expense quizlet?
Variable Expense. Expense that changes from month to month .
What are the 4 types of expenses?
If the money's going out, it's an expense. But here at Fiscal Fitness, we like to think of your expenses in four distinct ways: fixed, recurring, non-recurring, and whammies (the worst kind of expense, by far).
What are the categories of expenses?
There are three major types of financial expenses: Fixed, Variable, and Periodic . Fixed expenses are expenses that don't change for long periods of time, like office rent or vehicle lease payments for you or your staff. Variable expenses change from month to month, such as utilities or meals and entertainment.
What are the 3 types of expenses?
Fixed expenses, variable expenses, and irregular expenses are the three categories that make up your budget, and are vitally important when learning to manage your money properly. When you've committed to following a budget, you must know how to put your plan into action.
