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
serg [7]
2 years ago
5

Dermody Snow Removal's cost formula for its vehicle operating cost is $3,030 per month plus $333 per snow-day. For the month of

December, the company planned for activity of 15 snow-days, but the actual level of activity was 17 snow-days. The actual vehicle operating cost for the month was $8,300. The spending variance for vehicle operating cost in December would be closest to:
Business
1 answer:
hodyreva [135]2 years ago
4 0

Answer:

391 F

Explanation:

Calculation to determine what The spending variance for vehicle operating cost in December would be closest to

Using this formula

Spending variance for vehicle operating cost = Flexible budget-Actual

Let plug in the formula

Spending variance for vehicle operating cost= (333*17+3,030)-8300

Spending variance for vehicle operating cost=(5,661+3,030)-8,300

Spending variance for vehicle operating cost=8,691-8,300

Spending variance for vehicle operating cost=391 F

Therefore The spending variance for vehicle operating cost in December would be closest to

391 F

You might be interested in
true or false and then EXPLAIN why. Assume the economy produces five goods. If the prices of three of the goods increase, then t
Ipatiy [6.2K]

Answer:

The correct answer is False.

Explanation:

The prices of goods and services are fundamentally determined by their demand and supply. When they increase or decrease, it is because one of these two variables has led to a change. Specifically, an increase in prices occurs especially for three reasons.

Case 1: Supply is maintained and demand increases :

In this situation, companies continue to offer the same amount of a good or service, but we all buy more of them. This can happen for many reasons, among them, an increase in the population (there are more people and more traffic jams and more bikes are sold for circulation on the urban road), it becomes somewhat fashionable, our incomes increase, etc.

It can also happen that the price of a substitute rises (goods that give us exactly the same, such as orange soft drinks of one brand or another). If the price of brand X increases, the demand for brand Y will surely increase, since it will cover the same need at a lower price.

Case 2: Supply falls and demand remains :

A reduction in the supply of companies will make it more expensive. It can happen for a wide range of reasons: from the number of companies with these offers decreasing until the technology of some firms becomes outdated and only a few remain on the market. It may also happen that the price of inputs increases and that manufacturers cannot produce the same quantity as before due to this increase in price.

Case 3: Supply falls and demand increases :

In this case, a ‘mix’ of the phenomena that we have seen previously would take place. However, there are other more specific variables that cause prices to vary. For example, on occasion, governments artificially increase their monetary base. In other words, they use the strategy of manufacturing and issuing money, with more money in circulation than an economy really needs.

8 0
3 years ago
A manufacturer has a monthly fixed cost of $50,000 and a production cost of $7 for each unit produced. The product sells for $16
Oxana [17]

Answer:

The manufacturer will have a c. Loss

Explanation:

The break-even point is the level of production at which the costs of production equal the revenues for a product and calculated by using following formula:

Break-even point in units = Fixed cost/(Selling price per unit-Variable cost per unit)  = $50,000/($16-$7) = $50,000/$9 = 5.556 units (rounding)

The manufacturer produces and sells 3,000 units per month < Break-even point in units. Therefore, the manufacturer will have a loss

8 0
2 years ago
Read 2 more answers
Simmons Consulting Co. has the following accounts in ts ledger Cash: Accounts Receivable Supplies: Office Equipment Accounts Pay
Alchen [17]

Answer:

Simmons Consulting Co

<u><em>General Journal</em></u>

Oct 1

Rent Expense $4,800 (debit)

Cash $4,800 (credit)

<em>Paid Rent Expense</em>

Oct 3

Advertising expense $2,500 (debit)

Cash $2,500 (credit)

<em>Paid Advertising Expense</em>

Oct 5

Supplies  $1,390 (debit)

Cash $1,390 (credit)

<em>Paid for Supplies</em>

Oct 6

Office equipment $10,670 (debit)

Office Equipment Accounts Payable $10,670 (credit)

<em>Bought Office equipment on credit</em>

Oct 10

Accounts Receivable $19,730 (debit)

Cash $19,730 (credit)

<em>Received payment from accounts</em>

Oct 15

Cash $59,480 (debit)

Accounts Payable $59,480 (credit)

<em>Made payment to Accounts Payable</em>

Oct 27

Miscellaneous Expenses $530 (debit)

Cash $530 (credit)

<em>Paid for Miscellaneous Expenses</em>

Oct 30

Utilities expense $220 (debit)

Cash $220 (credit)

<em>Paid for telephone bill</em>

Oct 31

Cash $538,620 (debit)

Fees Earned $538,620 (credit)

<em>Cash received for Fees Earned</em>

Oct 31

Utilities expense $1,540 (debit)

Cash $1,540 (credit)

<em>Paid for electricity bill</em>

Oct 31

Drawings $56,700 (debit)

Cash $56,700(credit)

<em>Cash drawings by owner</em>

Explanation:

I have prepared the journals and their narrations, see the above.

8 0
2 years ago
This year, International Accountants, Inc. implemented a new benefits system that gives employees the flexibility to choose amon
Ymorist [56]

Answer:

The correct answer is b) cafeteria-style benefits plan.

Explanation:

A cafeteria plan is a type of employee benefit plan offered in the United States in accordance with Section 125 of the Internal Revenue Code. Its name comes from the first plans that allowed employees to choose between different types of benefits, similar to a client's ability to choose from items available in a cafeteria. Qualified cafeteria plans are excluded from gross income.

3 0
3 years ago
The marketing people at Ben and Jerry's Ice Cream Company believe that if they lower the price of their Cherry Garcia flavor ice
Ksenya-84 [330]

Answer:

The correct answer is: their total revenue will decrease if they lower the price.

Explanation:

A price elasticity equal to one means that sales go up (or down) by the same percentage as the price goes down (or goes up). In this case the total income will not be affected.

An elasticity greater than one means that sales (x) rise (or fall) in greater proportion than the price falls (or rises). In this case the total income goes up. An elasticity of less than one means that sales rise (or fall) in a smaller proportion to the percentage at which the receipt falls (or goes up). In this case the total income decreases. Therefore, to know the result or the effects of a price variation it is very important to know the elasticity.

When the company varies the price of a good, you should consider studying the possible effects of that variation on the demand of the other products of the company.

In summary, we can say that the price drop as a marketing strategy is only usable when the demand for the product is relatively elastic and the company does not compromise its profitability; while the company when it starts a price increase must know the possible responses of the competition, because if it is chosen, it knows that the market will respond especially if there is a leader who usually sets the guidelines when setting prices and conditions of sale, thereby facilitating stability to the sector.

8 0
3 years ago
Other questions:
  • Skysong, Inc. reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 250 $5 $ 1,250 12 Purchas
    12·1 answer
  • You are evaluating a fund that had an annual average return of 7.2%. During that time, the average risk-free rate was 1.5% and t
    14·1 answer
  • For most companies, the web ______ the threat that new competitors will enter the market by ______ traditional barriers to entry
    13·1 answer
  • There is absolutely no good reason to not conduct market research.<br> True<br> False
    14·1 answer
  • Suppose a company makes an investment and opens another factory. In 1 or 2 sentences, explain how this investment directly creat
    14·2 answers
  • Before 1860, most of the U.S. population lived _____ and most workers _____ .
    10·1 answer
  • As businesses have become more dependent on information systems, they have faced a(n): decrease in the number and severity of se
    8·1 answer
  • How to do 2+2 PLS PLS PLSSSSSSSSSSSSS HELP
    12·1 answer
  • If at the end of a period, a company has $400 in cash, $100 in accounts
    15·1 answer
  • Fob destination means that goods are owned by the buyer as soon as ______.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!