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2 years ago

What is fixed and variable cost?

Business

1 answer:

dedylja [7]2 years ago

7 0

Answer:

Okay, so fixed costs are costs that are consistant in their price (buildings, rent, machinery, etc.). Variable costs are costs that change based on production (wages, materials, utilities, etc.).

Hope this helps :)

Explanation:

Explained above.

You might be interested in

What is break even point?

maks197457 [2]

Answer:

The break-even point in economics, business—and specifically cost accounting—is the point at which total cost and total revenue are equal, i.e. "even". There is no net loss or gain, and one has "broken even", though opportunity costs have been paid and capital has received the risk-adjusted, expected return.

Explanation:

6 0

3 years ago

Turner Corporation acquired two inventory items at a lump-sum cost of $100,000. The acquisition included 3,000 units of product

inessss [21]

Answer:

The amount of gross profit Turner Corporation should recognize is $20,000.

Explanation:

The following are given in the question:

Lump-sum cost = $100,000

Units of LF acquired = 3,000

Units of 1B acquired = 7,000

LF price per unit = $30

1B price per unit = $10

Unit of LF sold = 1,000

Therefore, we have:

Share of LF in the Lump-sum cost = (Units of LF acquired / (Units of LF acquired + Units of 1B acquired)) * Lump-sum cost = (3,000 / (3,000 + 7,000)) * $100,000 = $30,000

LF cost per unit = Share of LF in the Lump-sum cost / Units of LF acquired = $30,000 / 3,000 = $10

LF total revenue = Unit of LF sold * LF price per unit = 1,000 * $30 = $30,000

LF cost of goods sold = Unit of LF sold * LF cost per unit = 1,000 * $10 = $10,000

LF gross profit = LF total revenue - LF cost of goods sold = $30,000 - $10,000 = $20,000

Therefore, the amount of gross profit Turner Corporation should recognize is $20,000.

3 0

2 years ago

March 1, 2014 Cardullo's purchased an order of German chocolate from a supplier for $250, but didn't pay cash for the order unti

PilotLPTM [1.2K]

Answer:

Dr Inventory Purchases $250

Cr Trade Payables $250

Explanation:

At the time of the purchase, Inventory purchases which is an asset in nature has been increased and hence must be debited by $250 and similarly the Payable has been increased which is liability in nature and hence must be credited with $250. The entry would be as under:

Dr Inventory Purchases $250

Cr Trade Payables $250

4 0

2 years ago

What are a list of ways a family can provide enrichment for children without elaborate or expensive toys?

schepotkina [342]

Answer:

Please see below.

Explanation:

Below are some of the list a family can provide enrichment for children without elaborate or expensive toys.

1. A family can gather their children and ask them to sing their favorite songs poems. They can also be taught new songs and poems. By doing this, boredom will be eliminated hence enriches them without necessary buying them expensive toys.

2. A family can ask their children to paint any animals they like whether on papers or plywood in different colours This will enable them to develop their innate drawing skills while making fun of the whole process.

3. The family can as well play a quick game with their children. Some games like arm or thumb wrestle could be fun. There is also clapping games or the children can teach the family the clapping games they learnt at school.

4. Children could be asked to tell a story from favorite story books or the parent could create an imaginary story for them. The whole idea is to keep them busy and make it fun as much as possible.

5. There is also riddles and play and cracking of jokes. Children may be asked to crack jokes, play riddles etc. Parents may as well crack jokes and play riddles for them in order to keep them busy and make them have fun.

6. For children who are already in school, the parents could help them solve their maths home work. They may be asked to solve first, after which corrections will be done for them. They may also be given other maths puzzle to solve, just to make them busy and have fun.

6 0

3 years ago

Is shift work involved for lawyers??

Mamont248 [21]

Answer:

I think so.

Explanation:

This may be depending on the job you have in the Lawyer Occupation, but because they must do different types of work and must go to several different clients, I would say yes. Sorry if this is wrong, but I hope it helps!

4 0

3 years ago