Question

1. Define the terms total fixed costs, total variable costs, and total costs.

1. Define the terms total fixed costs, total variable costs, and total costs.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
E22-1.   Define and classify variable, fixed, and mixed costs. (LO 1) Bonita Company manufactures a single...
E22-1.   Define and classify variable, fixed, and mixed costs. (LO 1) Bonita Company manufactures a single product. Annual production costs incurred in the manufacturing process are shown below for two levels of production. Costs Incurred Production in Units 5,000 10,000 Production Costs Total Cost Cost/Unit Total Cost Cost/Unit Direct materials $8,000 $1.60 $16,000 $1.60 Direct labor ?9,500 ?1.90 ?19,000 ?1.90 Utilities ?2,000 ?0.40 ??3,300 ?0.33 Rent ?4,000 ?0.80 ??4,000 ?0.40 Maintenance ???800 ?0.16 ??1,400 ?0.14 Supervisory salaries ?1,000 ?0.20 ??1,000...
Define and know how to calculate the following variables: fixed cost, variable costs, total cost, average...
Define and know how to calculate the following variables: fixed cost, variable costs, total cost, average fixed cost, average variable cost, average total cost, and marginal cost.
Quantity Total costs Total variable costs Marginal costs Average total costs Average variable costs Average fixed...
Quantity Total costs Total variable costs Marginal costs Average total costs Average variable costs Average fixed costs 1 $20 2 $6 $5 3 $21 4 $10.50 $2.50 5 $9 Given the table, what is the marginal cost of producing the fourth unit? a. $20 b. $10 c. $5 d. $11 e. #31.50
Sunland Corp. had total variable costs of $193,800, total fixed costs of $133,300, and total revenues...
Sunland Corp. had total variable costs of $193,800, total fixed costs of $133,300, and total revenues of $340,000. Compute the required sales in dollars to break even. Required sales $ Amanda Company reports the following total costs at two levels of production. Classify each cost as variable, fixed, or mixed. 5,000 Units 10,000 Units Indirect labor $ 3,000 $ 6,000 Fixed CostsMixed CostsVariable Costs Property taxes 7,000 7,000 Fixed CostsMixed CostsVariable Costs Direct labor 28,000 56,000 Fixed CostsMixed CostsVariable Costs...
11. Define the Marginal Cost, Average Total cost, Average Variable cost, Average fixed cost?
11. Define the Marginal Cost, Average Total cost, Average Variable cost, Average fixed cost?
Eastland Corp. had total variable costs of $150,000, total fixed costs of $120,000, and total revenues...
Eastland Corp. had total variable costs of $150,000, total fixed costs of $120,000, and total revenues of $250,000. (a1) Your answer is correct. Calculate contribution margin ratio. Contribution margin ratio % SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 5 used (a2) Compute the required sales in dollars to break even. Required sales $
(a) Calculate marginal costs, total costs, average fixed costs, average variable costs and average total costs,...
(a) Calculate marginal costs, total costs, average fixed costs, average variable costs and average total costs, given the following table. Fixed costs are $100. Output Total Variable Cost Marginal Cost Total Cost Average Fixed Cost Average Variable Cost Average Total cost 0 0 1 60 2 90 3 110 4 150 5 230 6 450 7 610 8 810 (b) Between what levels of output is there increasing marginal productivity? (c) If labour were the only input to this production...
find the terms "Fixed Cost" & "Variable Cost": 1. Explain the terms in detail. 2. Explain...
find the terms "Fixed Cost" & "Variable Cost": 1. Explain the terms in detail. 2. Explain how the cost of energy for the hypothetical energy company, Canfield Energy Company can be both a fixed cost and a variable c
The variable costs of Amina hospital represent 70% of total revenue and fixed costs of AED...
The variable costs of Amina hospital represent 70% of total revenue and fixed costs of AED 15,000,000 for the year 2019. Required: 1. Compute the BEP expressed in total revenue. 2. If total revenue in 2019 was AED 70,000,000 from 60,000 patients, find out the BEP (Q). 3.If the average patient cant afford to pay more than $866, what the professional advice that would give to the owners of Amina Hospital. The answer should be supported by computation.
In year 1 Frodo Company has variable costs of $80 per unit, total fixed costs of...
In year 1 Frodo Company has variable costs of $80 per unit, total fixed costs of $200,000, and a break-even point of 5,000 units. If the company raises the sales price per unit by $10 the following year, how many units must Frodo Company sell to break even in Year 2? A. 3,000 units B. 4,000 units C. 6,000 units D. 5,000 units
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT