The following cost items relate to the Henning Company. Classify each cost as a variable cost or a fixed cost by placing an X in the appropriate column. Each cost should be evaluated by how it changes in total with changes in the volume of activity. Also indicate with an X for each item if it is a product cost or a period cost.
Definitions:
Interest Rate
The percentage of a sum of money charged for its use, typically expressed on an annual basis.
All Equity
A financing structure where a company's capital structure is composed entirely of equity without any debt.
Repurchase Shares
The action taken by a company to buy back its own shares from the marketplace, reducing the amount of outstanding stock.
Borrowing
The act of obtaining funds from another party, often a financial institution, with a promise to repay the principal amount along with interest or other charges over a period.
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