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leva [86]
3 years ago
13

Illinois Company is attempting to develop the cost function for repair costs. The following past data are available: Machine Hou

rs Repair Costs 2,400 $6,385 1,200 $3,480 2,000 $5,285 3,400 $8,980 Using the high-low method, what is the Fixed repair cost
Business
1 answer:
Harlamova29_29 [7]3 years ago
7 0

Answer:

$480

Explanation:

Data provided in the question:

Machine              Hours Repair Costs

2,400                       $6,385

1,200                        $3,480

2,000                       $5,285

3,400                       $8,980

Now,

                       Machine              Hours Repair Costs

Highest             3,400                       $8,980

Lowest              1,200                        $3,480

Difference        2,200                       $5,500

Unit variable cost =  $5,500 ÷ 2,200

= $2.5

Total cost at high level = $8,980

Machine hours highest level = 3,400

Also,

Total cost at high level = Fixed cost + Variable cost at highest level

or

$8,980 = Fixed cost + [ $2.5 × 3,400 ]

or

Fixed cost = $8,980 -  [ $2.5 × 3,400 ]

= $8,980 - $8,500

= $480

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Answer:

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4 0
3 years ago
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t applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of date
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T applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of the date.

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Under a conditional receipt, the applicant and the insurance agency shape a "conditional" settlement this is contingent upon the situations that existed when an utility or medication exam is finished. It provides that the applicant is included right now as long as they bypass the insurer's underwriting requirements.

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How does a conditional receipt vary?

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8 0
2 years ago
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lesya [120]

Answer:

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The calculation is simple. Bond interest is simply calculated by multiplying bond value with the assorted interest rate.

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3 years ago
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