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Alexus [3.1K]
3 years ago
12

On a separate sheet of paper, copy the multi- flow map below. organize information on how firms determine their total costs by c

ompleting the multi flow map with examples of fixed and variable costs.
Business
1 answer:
larisa86 [58]3 years ago
5 0

Answer:

The correct answer is the definition of fixed and variable costs.

Explanation:

The cost of production of a company can be subdivided into the following elements: rents, wages and wages, depreciation of capital goods (machinery and equipment, etc.), the cost of raw materials, interest on operating capital , insurance, contributions and other miscellaneous expenses. Different types of costs can be grouped into two categories: fixed costs and variable costs.

Fixed costs

The fixed costs are those that the company necessarily has to incur when starting its operations. They are defined as costs because in the short and intermediate term they remain constant at different levels of production. As an example of these fixed costs, executive salaries, rents, interest, insurance premiums, depreciation of machinery and equipment and property taxes are identified.

Variable costs

Variable costs are those that vary with the volume of production. The total variable cost moves in the same direction of the production level. The cost of raw material and the cost of labor are the most important elements of variable cost.

The decision to increase the level of production means the use of more raw material and more workers, so the total variable cost tends to increase production. The variable costs are, then, those that vary as production varies.

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The company expects an annual need for 5,000 switches. If the company makes the product, it will have to utilize factory space c
WITCHER [35]

Based on the cost to produce each unit of the switches and the annual demand, the total costs will be $25,900 more than the cost of purchasing the switches.

<h3>What is the cost of producing the switches?</h3>

This can be found as:

= Variable cost + set up costs + supervisor's salary + opportunity cost of lost rent

= ( (6 + 5 + 4) x 5,000 units) + 45,500 + 41,000 + (3,700 x 12 months)

= $205,900

If they bought the switches at $36, they would cost:

= 36 x 5,000

= $180,000

Its cheaper to buy by:

= 205,900 - 180,000

= $25,900

Find out more on total costs computation at brainly.com/question/5168855.

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7 0
2 years ago
"The factor(s) which cause(s) a movement along the demand curve include(s):
Oksanka [162]

Answer: Option D

Explanation: In simple words, movement along the demand curve refers to the change in the demand of a product due to change in its price. When there is a change due to factors other than price then such change brings shift in the demand curve.  

In the movement, the demand of a commodity remains constant with all other factors such as advertising, income of consumers etc.

Hence from the above we can conclude that the correct option is D.

8 0
3 years ago
Pennsylvania Company supplied the following information:
V125BC [204]

Answer:

$12,620

Explanation:

Cost of Direct materials of Job 99 = $70 x 100 = $7,000

Cost of Direct labour of Job 99 = $5 x 100 = $5,000

Overhead Expenses of Job 99 = $62 x 10 = $620

Total job cost for Job 99 = 7000 + 5000 +620 = $12,620

6 0
3 years ago
Glumhoff​'s Packaging Department had the following information at July 31. All direct materials are added at the end of the conv
katovenus [111]

Answer:

Explanation:

The total equivalent units of direct materials and conversion costs for the month has been computed and attached.

Note that the conversion cost for the ending work in process was calculated as:

= $35,000 × 28%

= $35,000 × 0.28

= $9,800

Check the attachment for further analysis.

6 0
3 years ago
When using variable costing, costs are grouped by each of the following (select all answers that are applicable):___________a) f
pashok25 [27]

Answer:

<h2>Where THE OPTIONS ????</h2>
7 0
3 years ago
Read 2 more answers
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