Answer:
Variable cost=$750,000
Fixed costs= $13,000
Explanation:
Giving the following information:
The firm must purchase $60 in raw meat and pay $50 in wages for labor and $40 in fuel costs. Also, the firm rents a factory for $10,000 per month and makes 3,000 in monthly payments on meat packaging equipment. Suppose the firm prepares and transports 5,000 packages of meat per month.
Variable cost= raw meat + wages + fuel= (60 + 50 + 40)*5,000= $750,000
Fixed costs= rent + packaging equipment= 13,000
Musical instruments are grouped into families based on how they make sounds. In an orchestra, musicians sit together in these family groupings. But not every instrument fits neatly into a group. For example, the piano has strings that vibrate, and hammers that strike.
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Answer: See explanation
Explanation:
1. Net profit margin ratio (%) for 2017 will be:
= Net income/Net sales
= 6220/89500
= 0.0695
= 6.95%
Net profit margin ratio (%) for 2018 will be:
= Net income/Net sales
= 6370/91000
= 0.07
= 7%
An improvement of (7% - 6.95%) = 0.05% occurs in net profit.
2. Asset turnover for the year ended 2017 will be:
Net sales/Average total assets
= 89500/64400
= 1.39
= 139%
Asset turnover for the year ended 2018 will be:
Net sales/Average total assets
= 91000/65000
= 1.4
= 140%
There's an improvement in the asset turnover in 2018.
3. Return on assets for 2017 will be:
= Net income/Average total asset
= 6220/64400
= 9.66%
Return on assets for 2018 will be:
= Net income/Average total asset
= 6370/65000
= 9.80%
An improvement in return on total assets of (9.80% - 9.66%) = 0.14% occurs.
Both component-net profit margin ratio or asset turnover- are responsible for the change in the company's return on assets.
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The Financial Accounting Standards Board (<em>FASB</em>) is an independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States, following generally accepted accounting principles (<em>GAAP</em>).
