Exercise 1-11 Indicate whether each of the following costs is most likely a fixed cost or a variable cost by writing

Indicate whether each of the following costs is most likely a fixed cost or a variable cost by writing “fixed” or “variable” in the space provided.

a.  Assembly labor.

b.  The cost of material used in production.

c.  Rent.

d.  Depreciation.

e.  Fuel cost at an airline.