Question

2. Classify each of the following items of factory overhead as either a fixed or a...

2. Classify each of the following items of factory overhead as either a fixed or a variable cost. (Include any costs that you consider to be semi-variable within the variable category. Remember that variable costs change in total as the volume of production changes.)

Janitor’s wages

Rent

Labor for machine repairs

Vacation pay

Employer’s payroll taxes

Insurance on building

Indirect Labor

Overtime premium pay

Indirect materials

Machine lubricants

Plant manager’s salary

Factory electricity

Depreciation on building (straight line method)

Depreciation on machinery (units-of-production method)

Small tools

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Answer #1

Items of factory overhead

Fixed or a variable cost

Janitor’s wages

Fixed cost

Rent

Fixed cost

Labor for machine repairs

Variable cost

Vacation pay

Variable cost

Employer’s payroll taxes

Variable cost

Insurance on building

Fixed cost

Indirect Labor

Variable cost

Overtime premium pay

Variable cost

Indirect materials

Variable cost

Machine lubricants

Variable cost

Plant manager’s salary

Fixed cost

Factory electricity

Variable cost

Depreciation on building (straight line method)

Fixed cost

Depreciation on machinery (units-of-production method)

Variable cost

Small tools

Fixed cost
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