Sam's total expenses last month were $1840. What was his total variable cost for last month?
Expense
Amount
Rent
$100
Groceries and drinks
$1000
$10
Insurance premiums
Loan interest payment
Clothes
$30
$200
&
Utilities
$300
Home security fee
$200

$1500

Step-by-step explanation:

It is given that

Rent  = $100

Groceries and drinks = $1000

Insurance premiums   = $10

Loan interest payment  =$30

Clothes  = $200

Utilities  = $300

Home security fee  = $200

Fixed cost are costs that does not vary and variable cost are costs that vary with goods and services.

In the given problem, rent , insurance premiums, loans interest payment ad home security fee are fixed cost.

Groceries and drinks, clothes and utilities are variable cost.

So, total variable cost for last month is

Therefore, total variable cost for last month is $1500.

step-by-step explanation:

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