I'm having trouble identifying the following items as a fixed or variable cost. Can anyone please help?? Here are the items and what I think they are, but I'm not completely sure:
Indirect materials--variable
Overtime premium pay--variable
Polishing compounds--variable
Employer's payroll taxes--fixed
Machine lubricants--variable
Employees' hospital insurance (paid by employer)--fixed
Labor for machine repairs--variable
Vacation pay--fixed
Janitor's wages--fixed
Product inspector's wages--fixed
BTW, it is a Cost Accounting assignment. Thanks is advance to anyone who can help!