Fixed and Variable Expenses Worksheet
A Grade 9 math worksheet to help students understand and identify fixed and variable expenses in personal and business finances.
Includes
Standards
Fixed and Variable Expenses
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Read each question carefully and provide your answers in the space provided. This worksheet will test your understanding of fixed and variable expenses.
What are Fixed and Variable Expenses?
Fixed expenses are costs that do not change regardless of the level of goods or services produced or consumed. Variable expenses are costs that change depending on the amount of goods or services produced or consumed.
1. Which of the following is typically considered a fixed expense for a small business?
Raw materials
Electricity bill (based on usage)
Rent for the office space
Sales commissions
2. Which of the following is a variable expense for an individual?
Monthly car loan payment
Groceries (amount varies)
Health insurance premium
Subscription to a streaming service
3. A fixed expense remains regardless of activity level.
4. The cost of raw materials used in production is an example of a expense.
5. Your monthly car insurance premium is generally considered a variable expense.
True
False
6. The more products a company manufactures, the higher its total variable costs will be.
True
False
7. Provide two examples of fixed expenses for a household.
8. Provide two examples of variable expenses for a student.
Match each expense type with its description.
9. Fixed Expense
a. Changes with activity level
10. Variable Expense
b. Stays constant regardless of activity