Part A: In two or more sentences, explain what a variable expense is and provide at least two examples, Part B: In two or more sentences, explain what a fixed expense is and provide at least two examples,​

Step-by-step explanation:

In the context of business, a variable expense is most commonly an expense that rises with production levels. Variable expenses also include strategic initiatives such as a project that is expensed. Variable expenses can be contrasted with overhead such as the cost of your HR team that doesn't change with your business volumes or strategy.

Business expenses are categorized in two ways: fixed expenses and variable expenses. Fixed expenses or costs are those that do not fluctuate with changes in production level or sales volume. They include such expenses as rent, insurance, dues and subscriptions, equipment leases, payments on loans, depreciation, management salaries, and advertising. Variable costs are those that respond directly and proportionately to changes in activity level or volume, such as raw materials, hourly production wages, sales commissions, inventory, packaging supplies, and shipping costs.

Bookkeeping and accounting systems track activities by assigning each transaction to a particular account-;phones, travel expense, materials purchase, etc '¦ The accounts are all given a number of defining attributes and among those is a designation of fixed expense or variable expense. This is important because most business planning activities require that expenses be easily segregated into these two categories. Those managing businesses soon learn how crucial it is to track expenses in a way that helps to make planning, forecasting and bidding as easy as possible.

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