Me !

following questions
a) fixed expenses are expenses that do not change from month to month ,and variable expenses are expenses that can fluctuate from month to month. complete the second column of the chart by determining if each experience is fixed or variable.

choose an example of fixed expenses and an example of variable expense and explain why they are classified that way.

Housing expense - fixed expense.

Food expense - variable expense.

Insurance and medical expense - variable expense.

Entertainment expense - variable expense.

Savings for retirement expense - variable expense.

Step-by-step explanation:

Part 1:

Here in the table, some data in the second column are missing and we have to fill it up.

Now, Housing expense is a fixed expense.

Food expense is a variable expense.

Insurance and medical expense is a variable expense.

Entertainment expense is a variable expense.

Savings for retirement expense is a variable expense.

Part 2:

Housing expense is a fixed expense because the House rent remains constant per month for a few years and after that, it may change.

Food expanse is a variable expense because the family does not have the same food every day and the rate of purchase of food may vary every day in the market. (Answer)

hreryryrranswer:

step-by-step explanation: