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kati45 [8]
2 years ago
14

Dr. Jones’ office has purchased the above equipment. It is now Year #2 and there is a $7,000 annual maintenance fee that needs t

o be added to the costs of the equipment. The variable cost is now $3.37 per study, but Dr. Jones’ office is planning on doing 1675 studies because there has been an addition of two new managed contracts, and there has been a reimbursement increase to $53.16.
Business
1 answer:
Paul [167]2 years ago
3 0

The Loss recorded in the year 2 for the table is -$35,841.39.

<h3>What is the profit or loss on the table? </h3>

<u>Year 2 </u>

Monthly Cost in year  $1564.29

Maintenance               $0  

Salary                          $39600

Fixed cost                   $0

Variable cost              <u>$356.40</u>

Total cost                   <u>$41520.69</u>

Reimbursements = $5679.30

Profit or Loss = Reimbursements - Total cost

Profit or Loss = $5679.30 - $41520.69

Loss =  -$35,841.39.

Read more about Profit or Loss

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roarie brothers farm a seed company specializing in seed corn. at their weekly meeting they tried to calculate the portion of th
alexdok [17]

Answer:

variable cost per bushel = $0.18848

total fixed costs = $6,652

Explanation:

we can use the high-low method of accounting to determine the variable and fixed costs:

  • highest activity cost = $25,500
  • highest activity level = 100,000 bushels

  • lowest activity cost = $7,500 (*doesn't make sense to use $75,000)
  • lowest activity level = 4,500

variable cost per unit = (highest activity cost - lowest activity cost) / (highest activity units - lowest activity units)

variable cost per unit = ($25,500 - $7,500) / (100,000 - 4,500) = $18,000 / 95,500 bushels = $0.18848 per bushel, since the quantities are large, we cannot round up

fixed costs = highest activity cost - (variable cost x highest activity units)

fixed costs = $25,500 - ($0.18848 x 100,000) = $6,652

6 0
3 years ago
Read 2 more answers
Which of the following would not be an adjustment to net income using the indirect method? An increase in accounts receivable. A
sertanlavr [38]

Answer:

Using the indirect method, an increase in accrued wages is not an adjustment to net income.

Explanation:

An increase in accounts receivable are subtracted from net income.

A decrease in a prepaid expense are added to net income.

A loss on equipment sold are added to net income.

An increase in accrued wages not consider. (Increase in the wages payable balance are added to net income)

An increase in plant, property and equipment.are subtracted from net income.

6 0
3 years ago
Which act prohibits banks from treating people differently based on race, origin, marital status, or age?
Serjik [45]

Answer:C.

Explanation:

4 0
2 years ago
Price and Output data over a five year period for an economy that produces only one good. Assume that year 2 is the base year. Y
olasank [31]

Answer:

$90

Explanation:

Nominal GDP is GDP calculated using current year prices.

Nominal GDP = current year prices x unit of output

18 x $5 = $90

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

7 0
3 years ago
A depositor places $10,000 in cash in a commercial bank, where the required reserve ratio is 10 percent. The bank sends the $10,
garik1379 [7]

Answer:

C) $10,000, $1,000, and $9,000, respectively.

  • actual reserves increase by $10,000
  • required reserves increase by $1,000
  • excess reserves increase by $9,000

Explanation:

the money deposited by the client = $10,000

bank's reserve ratio is 10% = $10,000 x 10% = $1,000

since the bank kept the whole $10,000 as reserves, then:

  • actual reserves increase by $10,000
  • required reserves increase by $1,000
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The bank is only required to keep $1,000 in reserves, this means it can borrow the remaining $9,000 whenever they want.

7 0
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