1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
My name is Ann [436]
3 years ago
15

Canniff Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports.

The cost formula for plane operating costs is $56,960 per month plus $2,634 per flight plus $6 per passenger. The company expected its activity in February to be 67 flights and 270 passengers, but the actual activity was 66 flights and 271 passengers. The actual cost for plane operating costs in February was $231,250. The plane operating costs in the planning budget for February would be closest to:
Business
1 answer:
HACTEHA [7]3 years ago
4 0

Answer:

Actual Operating costs         $231,250  

Planned Operating Costs  budgeted = $ 235058

Planned Operating Costs at actual level   = $ 232430

Explanation:

The Planned costs are the costs estimated at the planned level of activity.

The actual costs are costs that actually occur.

But flexible costs are those which are planned ( determined) at actual level of activity.

Canniff Air

                                       Actual                 Planned

Operating costs         $231,250              

The cost formula for plane operating costs is $56,960 per month plus $2,634 per flight plus $6 per passenger.

Planned Operating Costs= $56,960+ 2634 *67 flights + 6*270 passengers

                                        = $ 56960 + 176478+ 1620

                                         = $ 235058

Actual Operating Costs = $56,960+ 2634 *66 flights + 6*271 passengers

                                         = $ 56960 + 173844+ 1626

                                         = $ 232430

We put the values in the given formula to obtains these costs both planned and actual.

You might be interested in
Assume that Global Cleaning Service performed cleaning services for a department store on account for​ $180. How would this tran
tamaranim1 [39]

Answer:

(B) Increase both assets and equity by $180

Explanation:

The transaction analysis model tells us that:

Assets = Liabilities + Owner's Equity

Owner's equity = Contributed Capital + Retained Earnings

Retained Earnings = Net Income − Dividends

and

Net Income = Income − Expenses

The expanded accounting equation is obtain if all substitutions are made:

Asset = Liabilities + Contributed Capital + Income – Expenses − Dividends

In the Global Cleaning Service`s case:

Assets are increased either because the service is collected or is an account receivable. As the service provided is a revenue (income) is part of the Owner's Equity that also increase. Both, Asset and Owner's Equity, increase in 180.  

7 0
2 years ago
Soon after Jeff was hired as a company accountant, his company developed corporate programs to help improve self-confidence and
krek1111 [17]

Answer:

True (early 1980s)

Explanation:

5 0
3 years ago
The study of large-scale economic phenomena is calle
Grace [21]
The answer is macroeconomics
7 0
3 years ago
If materials were added at the beginning of the process, how many equivalent units of production for conversion costs would ther
Xelga [282]

Answer:

C.105,500 units

Explanation:

Equivalent unit of production is the quantity of work done in the manufacturing / production department. It also includes the completed percentage portion of the units in work in process.

Units complete and transferred = Beginning units + Additions - uncompleted units = 10,000 units + 100,0000 units - 15,000 units = 95,000 units

Equivalent Units = Units complete and transferred + ( Closing units x percentage completion )

Equivalent Units = 95,000 + ( 15,000 x 70% )

Equivalent Units = 95,000 + 10,500

Equivalent Units = 105,500

4 0
2 years ago
In the components of a business plan, what section contains a detailed description of the company, the problem/opportunity, prop
dimaraw [331]

In the components of a business plan, the section which contains a detailed description of the company, the problem/opportunity, proposed solution to be offered, and your competitive advantage is "Financial Projections section"

<h3>What is Financial Projections?</h3>

Financial predictions forecast your company's future revenues and expenses using existing and estimated financial data.

They frequently contain many scenarios so you may see how adjustments to one part of your finances (for example, increased sales or reduced operational expenses) may affect your profitability.

Financial predictions are an important tool for business planning for a variety of reasons.

  • Financial predictions assist you in setting your beginning budget, determine when you may anticipate the business to be become profitable, or set benchmarks for meeting financial goals if you're starting a business.
  • If you currently have a firm, making annual financial projections can assist you in setting goals and keep on target.
  • Both startups and current firms will require financial estimates when seeking outside finance to convince investors and lenders of the business's development potential.

To know more about the financial projections, here

brainly.com/question/21773027

#SPJ4

5 0
2 years ago
Other questions:
  • The purpose of this assignment is the creation of a research analysis. every day, consumers make millions of decisions that impa
    10·1 answer
  • Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the present and proposed produ
    6·1 answer
  • Roland and Quan are both on the staff of a car dealership. Roland is always asking colleagues to cover his shifts, but he never
    12·1 answer
  • An insurance company has offered your friend the choice of $45,000 per year for 15 years, with the first payment being made toda
    10·1 answer
  • Suppose the price for an Lyft ride in Austin, TX decreases from $15 to $12 causing the quantity of rides demanded to increase fr
    11·1 answer
  • Mary signed up and paid $600 for a 6 month ceramics course on June 1st with Choplet Ceramics. As of August 1st, Choplet’s accoun
    6·1 answer
  • Penny's candies is showing a p/e ratio of 1.32, while donna's confections has a p/e ratio of 6.7. what is the general mood of in
    14·1 answer
  • B2B markets differ from B2C markets because: Group of answer choices salespeople personally call on business customers to a far
    14·1 answer
  • The price elasticity of demand for senior citizens purchasing coffee from McDonald's is −5, while non-senior citizens have a pri
    12·1 answer
  • 4. when the total expenses are greater than the total revenues, (a) the income summary account has a credit balance. (b) the inc
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!