Define fixed cost and variable cost and give an example of each.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Survey of Accounting

ISBN: 978-0073379555

2nd edition

Authors: Edmonds, old, Mcnair, Tsay

See More Books

Question Posted: Jan 03, 2012 03:54 AM

See More Questions

Define and give an example of each of the methods of gathering survey data. Under what circumstances should researchers choose a specific approach?
Define and give an example of each of the following costs for a merchandising company: (a) Fixed cost (b) Variable cost (c) Mixed cost.
Define and give an example of each of the following revenues for a service company: (a) Fixed revenue (b) Variable revenue (c) Mixed revenue.
If two krypton atoms are held together by a stabilization energy of 1.005 kJ/mol at what temperature would you expect these atoms to transition from bound to unbound? Show your thought process for...
Why does participatory planning facilitate implementation?
Louisiana Products Co. had the following positive cash flows during the current year: received cash from customers of $750,000; received bank loans of $35,000; and received cash from the sale of...
Cada punto de contacto se considera, explica Stephanie Perdue, directora snior de marketing de Taco Bell, desde los psters en los restaurantes hasta los empaques y todos los diversos canales de...
Chloe and Emma start a new business, Cement Sidewalks and Accessories (CSA), during the current year. CSA is organized as a partnership. Chloe owns 40% of CSA; Emma owns the remaining 60%. Chloe and...
The Nash's Trading Industries has the following account balances: Retained earnings $ 74000 Revenue $362000 Operating Expenses $ 297000 Interest Expense $ 16700 On the corporate income statement what...
The string of a conical pendulum is 50 cm long and the mass of the bob is 0.25 kg. Find the angle between the string and the horizontal when the tension in the string is six times the weight of the...
Eddie Emerson is a proud woman with a problem. Her daughter has been accepted into a prestigious law school. While Ms. Emerson beams with pride, she is worried sick about how to pay for the school;...
How can knowing cost behavior relative to volume fluctuations affect decision making?
Define the bullwhip effect, and explain how it occurs. Describe why the bullwhip effect is undesirable. Explain how information systems can eliminate this effect.
Consider a piston with an orifice in a cylinder filled with a fluid of viscosity $\mu$ as shown in Fig. 1.106. As the piston moves in the cylinder, the fluid flows through the orifice, giving rise...
Add a function to SmallWorld that computes the global clustering coefficient of a graph. The global clustering coefficient is the conditional probability that two random vertices that are neighbors...
Show that the generators of the algebra (33.8) are related by parity. For a Dirac wavefunction the action of parity is $P \psi(\boldsymbol{x}, t) P^{-1}=\gamma_{0} \psi(-\boldsymbol{x}, t)$, up to a...
Extend the algorithm you designed for Exercise 6.2 so that it can evaluate positions that are nonterminalin other words, positions where the game has not yet finished. Your score should be positive...
In addition to tanh, another s-shaped smooth function, the logistic sigmoid function y=1 / (1+exp(x)), is commonly used as an activation function in neural networks. A common way to implement them in...
Why is the unit-cost concept helpful in accounting? lp1
Saccharin is an artificial sweetener that is used in diet beverages. In order for it to be metabolized by the body, it must pass into cells. Below are shown the two forms of saccharin. Saccharin has...
Iron ore is converted to pig iron in an industrial blast furnace. The pig iron, in turn, is converted to carbon steel by high-temperature oxidation. The blast furnace process takes place in a series...
Units of production data for the two departments of Atlantic Cable and Wire Company for August of the current fiscal year are as follows Each department uses the average cost method.a. Determine the...
The following information concerns production in the Finishing Department for March. The Finishing Department uses the average cost method. a. Determine the number of units in work in process...
The charges to Work in Process?Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials...
Prepare journal entries to record the following events: Jul. 1 Klemens Company accepted a 5%, 3-month, $8,000 note dated July 1 from Mox Company for the balance due on Mox's account. Jul. 31 Klemens...
FINANCIAL STATEMENT ANALYSIS INSTRUCTIONS 1. PREPARE RATIO ANALYSIS REPORT ( word file) Format 1. Introduction 2. Importance of Financial Statements 3. Importance of Financial statement analysis and...
Let us assume that Europe is in recession, China's economy is slowing down, and the US economy is growing at 1-2%. Use these assumptions to invest in 4 ETFs (electronically traded funds). The 4 ETFs...

Define fixed cost and variable cost and give an example of each.

Question:

Step by Step Answer:

A fixed cost is a cost that in total remains const...View the full answer

Survey of Accounting

Students also viewed these Managerial Accounting questions