Explain the difference between fixed, variable, and semi variable costs.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
The total dollar amount of a fixed cost is constant at different levels of activity within the r...View the full answer
Answered By
PU Student
cost accounting
financial accounting
auditing
internal control
business analyst
tax
i have 3 years experience in field of management & auditing in different multinational firms. i also have 16 months experience as an accountant in different international firms. secondary school certification.
higher secondary school certification.
bachelors in mathematics.
cost & management accountant
4.80+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Explain the difference between fixed and variable costs. Give an example of a cost that varies with the number of miles you drive your car each week and an example of a cost that is fixed regardless...
-
Explain the difference between fixed and variable over head expenses.
-
Explain the difference between fixed costs, sunk costs, and variable costs. Provide an example that illustrates that these costs are, in general, different.
-
Describe the value paradox: the economics of diamonds and water.
-
The salmon fishery in Alaskas Bristol Bay has historically been one of the worlds richest. Over the past few years, poor returns of salmon to the bay and competition from farm-raised salmon have...
-
Weston Company has these data at December 31, 2017, the end of its first year of operations. Securities Cost Fair Value Trading $110,000 $122,000 Available-for-sale 100,000 96,000 LO15 The...
-
Use the following balance sheets and income statement to answer Furniture costing $55,000 is sold at its book value in 2013. Acquisitions of furniture total $45,000 cash, on which no depreciation is...
-
Family Supermarkets (FS) has a kaizen (continuous improvement) approach to budgeting monthly activity costs for each month of 2011. Each successive month, the budgeted cost-driver rate decreases by...
-
Which of the following is not a fundamental quality of useful accounting information? Group of answer choices Faithful representation. Relevance. Faithful representation and Relevance. Materiality.
-
On December 1, 2020, Cambridge Printers had the account balances shown below. Debit Credit Cash 14,650 Accumulated DepreciationEquipment 1,500 Accounts Receivable 3,900 Accounts Payable 3,000...
-
CCN Company produces more than 100 different variations of its basic product and has expended $250,000 in perfecting its newest variation, Zeggo, to the point of starting production. This amount...
-
With respect to the method of least squares, what is meant by the term heteroscedasticity, and what problem is likely to occur if it is present?
-
A regional transit authority is concerned about the number of riders on one of its bus routes. In setting up the route, the assumption is that the number of riders is the same on every day from...
-
1. A large group of students were asked what their favorite soft drink is. Below is the probability distribution for a student chosen at random liking a particular soft drink. Drink: Choka Kola CR...
-
Task: Identify a local (within 50km of North Bay) business and answer the following questions: Name of Business: 1. Is the business independent or is it a chain? What is one advantage of this...
-
What questions would you like to ask of Cassie to better understand any factors that may be affecting Sasha at this time? Growing sunflowers It's now week 6 into the growing sunflowers project. Your...
-
n rope is fixed to a wall and attached to the block such that the rope is parallel to the surface of the wedge. The 12 points) Consider the situation in the figure where a square block (mi) sits...
-
It has been argued that the U.S. governments economic policies, particularly as they affect the U.S. budget deficit, are severely constrained by the worlds financial markets. Do you agree or...
-
United Business Forms capital structure is as follows: Debt ............................................ 35% Preferred stock ........................... 15 Common equity .......................... 50...
-
What is the difference between the average cost method and the first-in, first-out (FIFO) cost method?
-
What advantage does the FIFO cost method have over the average cost method relative to providing information for cost control?
-
How would you define each of the following? a. joint products b. by-products c. joint costs d. split-off point
-
question 6 Timely Inc. produces luxury bags. The budgeted sales and production for the next three months are as follows july. august september Sales, in units 1,115. 1229. 1302 Production. in units...
-
On May 12 Zimmer Corporation placed in service equipment (seven-year property) with a basis of $220,000. This was Zimmer's only asset acquired during the year. Calculate the maximum depreciation...
-
Power Manufacturing has equipment that it purchased 7 years ago for $2,550,000. The equipment was used for a project that was intended to last for 9 years and was being depreciated over the life of...
Study smarter with the SolutionInn App