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Fixed and Variable Costs

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Please help me understand how to determine if the following would be considered fixed or variable costs.

1 Insurance premium for fire insurance on the factory building
2 The salary of the company president
3 Wood used to make tables
4 Rent for the use of a storage warehouse
5 Depreciation on the factory building

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Solution Summary

The solution explains how to determine if the cost is fixed or variable

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Costs are taken fixed or variable in relation to the sales/production
1 Insurance premium for fire insurance on the factory building ...

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