Please note and in the space below briefly describe an example of a Jazz Music S

Question

Please note and in the space below briefly describe an example of a Jazz Music Shop Fixed Cost…______________

Please note and in the space below briefly describe an example of a Jazz Music Shop Variable Cost… ____________

Jazz Music Shop, Inc. Income Statement For the Year Ended December 31, 2015 Revenues Merchandise Sales Music Lesson Income Total Revenues: 5,000.00 1,400.00 6,400.00 Expenses Salaries Rent expense Depreciation expense Utilities expense Supplies expense Total Expenses: 500 100 234 950 31 1,815.00 Net Income $4,585.00

Explanation / Answer

Fixed cost Salaries 500 Rent expense 100 Depreciation expense 234 Total fixed expense 834 Variable cost Utilities expense 950 Supplies expense 31 Total variable expense 981

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