Variable cost refers to the costs of production that fluctuate depending on the number of units produced.
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Explanation:</u></h3>
The cost of any product that changes based on the quantity of goods that are produced. The volume that is produced decides the fluctuations in the variable cost. Fixed cost is the cost that will not change based on the number of units of the goods that is produced. Rent of a building can be considered as a fixed cost.
Example for variable cost may be raw materials cost, packaging cost,etc. Variable cost can be calculated by adding up the cost of labor and raw materials that are used in the production of one unit of a good. The total variable cost can be calculated by multiplying variable cost per unit with the number of units produced.
Answer:
deposit money
Explanation:
this is because it can not be online but checks are a way of transferring currency and so can not be currency so A deposit money is cancelled out answer
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Answer:
The correct answer is: market prices that are determined by consumers and producers acting in their own self-interest.
Explanation:
In a market system, the price of a good is determined by the intersection of demand for goods by consumers and the supply of goods by the producers. The price is determined at the point where the market forces of demand and supply are equal.
The producer is trying to maximize its profit while the consumer is trying to maximize its utility. Both are working for their self-interest and in this way are able to allocate scarce resources through the working of the market system.
Answer:
The gross profit under percentage-of-completion method is $180000 for the year ended 31st December 2017 as shown in the attached.
Explanation:
The formula for calculating gross profit under percentage-of-completion method is given as
Gross profit =costs incurred to date/total contract costs*contract total gross profit
Costs incurred to date =$800000
Total costs =$2000000
Hence gross profit % is =800000/2000000
=40%
As a result 40% of the total gross profit of $450000 is due to be recognized now.
Find the attached for detailed computations.