Required

question 111

Essay

Required:
Using the table below as a reference, describe whether the following costs incurred in a manufacturing company are (a) fixed or variable and (b) product or period. The first cost item is presented in the table as an example.

*Straight-line depreciation method used.

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Definitions:

Fail to Close

A situation where a transaction or deal does not complete by the specified or agreed upon time.

Reduce Damages

Actions taken to minimize the amount of compensation required in a legal claim, often involving efforts to mitigate losses.

Breaches

Instances where parties fail to fulfill their obligations or violate the terms of a contract or agreement.

Duty

A moral or legal obligation to perform or refrain from performing a certain action.