Low-volume and high-cost are the product characteristics that would prompt the most intensive inspection.
In order to further describe each product, product characteristics can be added to the product definition. Size, form, weight, color, quality, hardness, and other attributes are a few examples of product qualities. Depending on your product and how its functional design criteria have been developed, the list of product attributes may vary.
Regarding reliability, quality, and safety, some product features are more important than others. It may be crucial to recognize those who are most significant.
Product qualities are all the minor details of a product that have an impact on the consumer's choice to purchase. Therefore, a buyer may be prompted to make a purchase as a result of a product attribute that directly adds value to them.
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consider a policy of tariff protection that results in $10,000 of deadweight losses while generating $5,000 of tariff revenue for domestic government. suppose an otherwise equivalent ver (voluntary export restraint) policy is in place of the tariff protection policy. then the national welfare loss to the domestic economy is equal to:
The national welfare loss to the domestic economy is equal to $15,000
VER (voluntary export restraint) is a trade restriction that is on similar lines as that of import quota but with a crucial difference being that instead of the home country defining the limit on the number of goods imported, it is the foreign country that voluntarily placed a limit on the quantity it will be exporting to the home country. Initially, when the tariff is being imposed, the government was earning $5,000 as tariff revenue. If VER is imposed then as in the case of quota, a fixed quantity will be imported. This restriction will raise the price and foreign countries would be able to sell the fixed quantity at higher prices. As VER is replacing import tariffs, revenue from tariffs will now be transferred to foreign countries in terms of the higher price result of VER. So, now national welfare loss will be,
National welfare loss = Deadweight loss with tariff + Benefit transferred to foreign producers
= $10,000 + $5,000
= $15,000
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pierce corp., an accrual-basis, calendar-year c corporation, had the following 2021 receipts: 2022 advance rental payments for a lease ending in 2023 $250,000 lease cancellation payment from a 5-year lease tenant 100,000 pierce had no restrictions on the use of the advance rental payments and renders no services in connection with the rental income. what amount of gross income should pierce report on its 2021 tax return? $100,000 $0 $350,000 $250,000
The gross income is $350000
The sum of an individual's earnings before taxes or other deductions is their gross income, which is sometimes referred to as their gross pay on a paycheck. This covers earnings from all sources, not only work, and is not restricted to earnings in cash; it also covers earnings from the receipt of goods or services. For businesses, the terms gross income, gross margin, and gross profit are equivalent. On the income statement, a company's gross income is calculated as total revenue less the cost of goods sold.
Gross Income=Advance Payment of Rent+Payment for Lease Cancellation
=$250,000+$100,000
=$350,000
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which of porter's four competitive strategies is involved when a company offers products or services that are of unique or superior value compared to those of competitors and that target a wide market?
When a business targets a large market and provides goods or services that are distinct from those of rivals or offer better value, differentiation strategy is at play.
Write a short note on product differentiation.The primary characteristic or characteristics that distinguish a company's goods or services from those of its competitors are referred to as its products. Product differentiation that works results in brand loyalty and higher revenue.
Finding and presenting a product or company's distinguishing qualities as well as the most important differences between it and its competitors are part of a product differentiation strategy. Making a product or service appealing to a target market or audience depends on developing a compelling value proposition and product distinctiveness.
Product differentiation, when done correctly, can give the product's seller a competitive advantage and ultimately boost brand recognition. Two examples of distinct products are the fastest high-speed Internet service and the most economical electric vehicle on the market.
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what's the most common way that a seller can help a buyer come up with the funds to complete a real estate transaction?
A down payment assistance program is the most common way that a seller can help a buyer come up with the funds to complete a real estate transaction.
A down payment on a residence is the cash that the buyer pays upfront in a actual estate transaction and different large purchases. Down payments are typically a percentage of the purchase charge and may variety from as low as 3% to as an awful lot as 20% for a assets being used as a number one residence.
Down payment, is an preliminary up-front partial price for the acquisition of costly objects/services such as a automobile or a residence. it is usually paid in cash or equal at the time of finalizing the transaction. A loan of some type is then required to finance the remainder of the price.
A down payment is an preliminary non-refundable charge this is paid upfront for purchasing a object – including a car or a residence – and the closing payment is paid by using acquiring a mortgage from a financial institution or financial organization.
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when a perpetual system is used and transportation cost is incurred to obtain inventory, the transportation cost is: a. added to inventory. b. deducted from the cost of goods sold when determining gross profit. c. reported as a contra-account that is subtracted from sales revenue when determining net sales. d. reported as selling, general
When a perpetual system is used and transportation costs are incurred to obtain inventory, the transportation costs are added to inventory.
Transportation (in British English) or transportation (in American English) is the movement of people, animals, and products from one location to another. Air, land (train and road), water, cable, pipeline, and space travel are all modes of transportation. The field is separated into infrastructure, vehicles, and operations. Transport facilitates human trade, which is critical for the advancement of civilizations.
Transport infrastructure includes both fixed installations such as roads, trains, airways, waterways, canals, and pipelines and terminals such as airports, railway stations, bus stations, warehouses, trucking terminals, refueling depots, and seaports. Terminals can be used for both passenger and cargo interchange and maintenance. Transport means any of the several modes of transportation used to transport people or freight.
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in a market, the reduction in total utility that is created when the amount of trade is reduced by some legal or artificial interference with equilibrium is called
The term "deadweight loss" refers to the decrease in overall utility that results in a market when trade volume is lowered due to a natural or artificial interference with equilibrium. The reduction in economic efficiency brought on by artificial interference, such as price ceilings and floors, is known as deadweight loss.
Deadweight loss, a term mostly used in economics, refers to any deficit brought on by an ineffective resource allocation. Deadweight losses may result from price floors, and living wage regulations, price ceilings like price controls and rent restrictions, and taxation. As a result, total utility decreases.
The tax discourages these types of profitable market transactions, which results in the deadweight loss. The size of the deadweight loss caused by a tax is determined by the price elasticity of supply and demand.
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when the interest rate parity equation does not hold and it is possible to earn profits without exchange-rate risk, there is said to be a(n) interest arbitrage opportunity.
The interest rate parity equation does not hold, and it is possible to earn profits without exchange-rate risk, there is said to be a(n) interest arbitrage opportunity covered.
If the hobby fee parity courting does now no longer maintain true, then you may make a secure profit. The scenario wherein IRP does now no longer maintain might permit for the usage of an arbitrage strategy.First, there can be variations in default danger and liquidity. Second, there are transactions fees which might also additionally save you returns from being precisely equal. Third, it does now no longer recollect exchange-fee danger.
The motives why hobby fee parity does not usually maintain are just like a number of the motives why shopping electricity parity does not usually maintain: economic belongings aren't equal in distinctive countries (a few investments are riskier than others and a danger top rate ought to be paid), there are authorities controls on.
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4. net present value method rydell manufacturing is evaluating a proposed capital budgeting project that will require an initial investment of $160,000. the project is expected to generate the following net cash flows: year cash flow 1 $43,600 2 $51,500 3 $48,000 4 $46,900 assume the desired rate of return on a project of this type is 9%. the net present value of this project is suppose rydell manufacturing has enough capital to fund the project, and the project is not competing for funding with other projects. should rydell manufacturing accept or reject this project? reject the project accept the project
The Rydell manufacturing should reject the project with initial investment of $160,000 and net cash flows as year 1 $43,600 2 $51,500 3 $48,000 4 $46,900 because the NPV of this new investment is negative.
What is NPV ?The difference between the current worth of future cash inflows and outflows is regarded as net present value. The NPV is used in capital budgeting and investment planning to evaluate the viability of a proposed investment. Employing the net present value (NPV), which takes into account the time value of money, is one way to compare the rates of return of various projects or assess how well an anticipated rate of return corresponds to the hurdle rate necessary to authorize an investment.
In the NPV calculation, the discount rate, which is dependent on a company's cost of capital, represents the time value of money. This rate may be a barrier for a project.
To solve the question :
Cost of the new investment is $160,000
Net cash flows :
Year 1 – $43,600
Year 2 –$51,500
Year 3 – $48,000
Year 4 – $46,900
Assumed rate of return 9%.
NPV Calculation of the new investment :
Cash Inflows from Investments :
NPV = ∑ [tex]\frac{R_{t}}{(1 + i)^{t} }[/tex]
Where,
[tex]R _{t}[/tex] = net cash flows at time (t)
i = desired rate of return
t = time of the cash flow
= $43,600/1.09 + $51,500 /1.09^2 + $48,000/1.09^3 + $46,900/1.09^4
= 40,000 +43,350.17 + 37,065.64 + 33,215.29
= 153,631.10
Net Present Value = Cash Inflows from Investments – Cost of Investments
Or, Net Present Value = $153,631.10 – $160,000
= -6368.9
From the above result, we can conclude that this is not a worthy investment; because the NPV of this new investment is negative.
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an analyst comes across dates listed as strings in a dataset, for example december 10th, 2020. to convert the strings to a date/time data type, which function should the analyst use?
In order to convert the strings to a date/time data type, the analyst will use mdy() function. Hence, the correct choice of answer for this question is option (b)
Give a brief account on data type.In programming, a data type is a categorization that describes the kind of value a variable possesses and the kinds of mathematical, relational, or logical operations that can be performed on it without producing an error. An integer is a data type that is used to categorize whole numbers, while a string is a data type that is used to classify text.
A grouping or collection of data items is known as a data type. One may define such a grouping for a variety of purposes, including similarity, practicality, or attention-getting. Understanding complicated terminology is frequently aided by good organization. The concept of a data type is explicitly included in almost all programming languages.
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The complete question is given below :
An analyst comes across dates listed as strings in a dataset, for example December 10th, 2020. To convert the strings to a date/time data type, which function should the analyst use?
A now()
B mdy()
C datetime()
D lubridate()
A solution to the adverse selection problem can be:
a. Reputation mechanisms.
b. The creation of a market.
c. Building a fence.
d. Free riding.
Reputation mechanisms is a solution to the adverse selection problem.
Therefore Option A is correct.
What is Adverse selection problem and reputation mechanism?
Adverse selection refers generally to a situation where sellers have information that buyers do not have, or vice versa, about some aspect of product quality.
Effects of Adverse Selection
Higher Prices for Customers. Lower Consumption.Health Risk.Reputation mechanism
It is a mechanism used in P2P systems to associate the identities of peers with the opinions of other peers about the contribution of the former, and to acquaint the participating peers with this association.
Hence, Option A is correct.
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How many of the following costs related to a refrigerator would be considered a capital expenditure? replace broken shelf install new water filter replace power cord replace door seals.
If the refrigerator is being used for personal use, then the costs of replacing the shelf, installing the new water filter, and replacing the power cord would be considered capital expenditures.
However, if the refrigerator is being used for business purposes, then the cost of replacing the door seals would be considered a capital expenditure.Installing a new water filter and replacing the power cord would be considered capital expenditures, as they are improvements made to the refrigerator that will increase its lifespan. Replacing a broken shelf and door seals would be considered maintenance costs, as they are necessary repairs that keep the fridge functioning properly.
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a company that manufactures brakes for cars has just released a line of all-terrain vehicles. using the same research and findings from the development of the atv brakes, the manufacturer is redesigning its car brakes. by sharing the research across the business units for both vehicles, the company is increasing company profitability through:
The manufacturer is redesigning its car brakes. by sharing the research across the business units for both vehicles, the company is increasing company profitability through economies of scope.
A manufacturer is a person or business that creates finished products from raw materials using a variety of tools, equipment, and processes, and then sells the products to consumers, wholesalers, distributors, retailers, or other manufacturers for the creation of more complicated products. The brakes that stop your car while you're driving come in two varieties: disc brakes and drum brakes. Anti-lock brakes and emergency brakes are also standard equipment in almost all vehicles. The sound of "metal on metal" (squeaking or screeching) is typically an immediate indication that your brakes need to be checked. When you apply the brakes, brake pads press either against the brake rotor or the brake drum to slow down and stop your car.
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martin is planning to sell his property this year although he will not retire for another five years at age 65. in order to avoid paying the entire capital gains tax on the sale of the property this year, he could investigate the possibility of a/an
In order to avoid paying the entire capital gains tax on the sale of the property this year, he could investigate the possibility of an installment sale.
Property is something over which a person or a company has legal ownership. Property can refer to either intangible objects with the potential for future value, such as stock and bond certificates, or tangible items like homes, automobiles, or appliances. Taxes are compulsory contributions that a government agency, whether local, regional, or federal, imposes on people or businesses. Public works and services like roads and schools, as well as programs like Social Security and Medicare, are funded by tax income. Regressive, proportional, and progressive taxation are the three basic types of taxation in the United States. Taxes that are progressive or regressive affect high- and low-income earners in various ways, whereas proportional taxes do not.
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paul borrowed $380 to be repaid in one year. he paid 10 percent interest and a service charge of $21. what is his finance charge?
Paul borrowed $380 with a one-year repayment period. He paid $21 in service fees and 10% interest. He has a $59 finance charge.
How do finance charges work?A finance charge is the total interest and loan fees you would be required to pay throughout the course of your mortgage loan. This includes all pre-paid loan fees and is based on the premise that you hold the loan for the entire period until it matures (at which point the last payment is due).
These finance costs include things like annual credit card fees, account maintenance charges, late payment fees for loans and credit cards, and transaction charges for accounts.
Why are loan fees so expensive?In finance, you may typically expect a better potential reward if you take on more risk. Credit cards pose a significant risk to banks and other card issuers since many users make late or non-payments. As a result, issuers impose hefty interest rates to offset that risk.
amount to pay= amount borrowed x interest
amount to pay= $380 X 0.1= $38
finance charge= amount to pay + service charge
finance charge= $38 + $21= $59
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kate company submitted an offer to purchase a plot of land that was listed at $120,000. kate's offer was 10% below the list price and was accepted. kate paid $10,000 to remove an old structure in order to make the land ready for use as a building site. title and attorney fees amounted to $3,000. annual property taxes amounted to $5,000 per year. based on this information, the cost of the land as shown on the balance sheet equals:
A title search rate levels from $75 – $200, relying on factors like the place the property is located.
How do you calculate annual property rates?Residential Property
Once you have your valuation, termed the market value, deduct R350 zero to arrive at the rateable value. Multiply the price in the Rand (R0,008619)) via the rateable value. This will supply you your annual rates. Divide this quantity by using 12 to get your month-to-month rates.
Property tax is the annual quantity paid by means of a land owner to the nearby government or the municipal organisation of his area. The property includes all tangible real estate property, his house, workplace constructing and the property he has rented to others.
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https://brainly.com/question/4244513#SPJ4grizzly company had retained earnings at december 31, 2022 of $300,000. during 2023, the company had revenues of $600,000 and expenses of $525,000, and the company declared and paid dividends of $16,500. retained earnings on the balance sheet as of december 31, 2023 will be:
Retained earnings on the balance sheet as of december 31, 2023 will be 358,500.
Retained earnings are a company's current profits minus any dividends or other distributions made to shareholders. Every time an accounting entry is made that has an effect on a revenue or expense account, this sum is modified. A substantial retained earnings balance indicates a stable financial situation for the company.
In order to use its retained earnings to finance more business expansion in areas like working capital, capital expenditures, acquisitions, research & development, and marketing, a rising company typically avoids paying dividends.
Beginning retained earnings, net income, and ending retained earnings are added to determine ending retained earnings, which is then subtracted from dividends paid.
= 300,0000 + (600,000-525,000) - 16,500
= 300,000 + 75,000 - 16,500
= 358,500
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you're trying to determine whether or not to expand your business by building a new manufacturing plant. the plant has an installation cost of $12.5 million, which will be depreciated straight-line to zero over its four-year life. if the plant has projected net income of $1,368,000, $1,935,000, $1,738,000, and $1,310,000 over these four years, what is the project's average accounting return (aar)?
The project's average accounting return (Aar) AAR =0.12702
Briefing:-The average net income divided by the average book value is how we define AAR. The project's typical net profit is:
($1,368,000 + 1,935,000 + 1,738,000 + 1,310,000) / 4 equals $1,587,750 for average net income.
The average book value is equal to ($12,500,000 + 0) / 2 which is $12,500,000.
As a result, the project's AAR is calculated as follows: AAR = Average Net Income / Average Book Value.
AAR =$1,587,750 / $12,500,000
AAR =0.12702
Is the typical income gross or net?Collect every adult's gross income above the age of 15 to determine the average household income. Make careful to account for all sources of income, including salaries, tips, bonuses, retirement income, and social security benefits. among others, Social Security benefits. To calculate the total household income, add these up.
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if the physician believes that the insurance company will pay only $185.00 of the $225.00 fee, how should
The physician must notify the patient that they will be charged an additional $70.00 once the insurance company pays the claim and bill the insurance company for $255.00.
Who is a physician?A physician, often known as a doctor, is a medical professional who focuses on promoting, maintaining, or restoring health through the investigation, diagnosis, prognosis, and treatment of illness, trauma, and other physical and mental impairments. A physician can decide to perform general practice, which involves offering ongoing, comprehensive medical care to individuals, families, and communities, or they can choose to specialize in treating specific diseases, patient demographics, and therapy methods. The science of medicine and the art or craft of medicine both call for a respectable level of expertise in its practical application. Correct medical practice requires a complete comprehension of the academic subjects, such as anatomy and physiology, underlying illnesses, and their treatment.
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between 1979 and 1980, the short-run aggregate supply curve shifted: please choose the correct answer from the following choices, and then select the submit answer button. answer choices left, due to the falling price of oil. right, due to the rising price of oil. right, due to the falling price of oil. left, due to the rising price of oil.
Between 1979 and 1980, the short-run aggregate supply curve shifted left, due to the rising price of oil.
The idea of the short run states that, for a specific period in the future, at least one input will be fixed while the others will be variable. It conveys the notion that an economy behaves differently depending on how long it has to respond to certain stimuli. In economics, the phrase "short run" is frequently used.
The relationship between a product's price and the quantity of that product that a seller is willing and able to supply is graphically represented by the supply curve in economics. The graph's horizontal axis represents supply quantity, and the vertical axis represents product price. The supply curve is a diagram that shows how the price of a good or service and the volume supplied during a specific time period are correlated.
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which best describes the current state of the study of leadership? a leadership is a frontier area of thought in which researchers do not agree on the same terminology and concepts. b leadership theories are all surprisingly very similar, covering practically identical concepts. c most researchers agree on the core tenants and principles of leadership. d most leadership research has been conducted by practitioners in the field, not professors or scientists. e leadership is not a very complex topic and is easy for anyone to adopt and practice.
Leadership research is currently at a crossroads, with experts differing on language and concepts. As a result, the correct choice is (a) leadership is a frontier field of study in which academics do not agree on language and concepts.
What is leadership research?Research leadership is defined as the influence of one or more people on the research-related behavior, attitudes, or intellectual capacities of others. Leadership studies is an interdisciplinary academic field that focuses on leadership in business and in everyday life. Leadership studies have their origins in the social sciences, and humanities (such as history and philosophy), as well as professional and practical fields of study (e.g., management and education). Leadership and organizational studies are integrally linked disciplines.
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when new firms have an incentive to enter a competitive market, their entry will a. shift the market supply curve to the left. b. increase the price of the product. c. increase demand for the product. d. drive down profits of existing firms in the market.
When new firms have an incentive to enter a competitive market, their entry will shift the market supply curve to the left. A competitive market is an economic word that refers to a marketplace with a large number of customers and sellers where no single buyer or vendor can influence the market.
Competitive markets have no entry barriers, a large number of customers and suppliers, and homogeneous products. Perfect competition, monopolistic competition, oligopoly, and monopoly are the four types of economic market structures. A competitive market is one with the greatest amount of competition feasible. It is also known as a perfectly competitive market because it has many buyers.
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atlantis fisheries issues zero coupon bonds on the market at a price of $406 per bond. these are callable in 8 years at a call price of $650. using semiannual compounding, what is the yield to call for these bonds
2.34% Yield to call is the rate that would make the issue price equal to the call price in future.
It is therefore the rate that would compound the $408 to $650 in 8 years.
Semiannual compounding means that the interest rate and the number of periods need to be adjusted:
Number of periods = 8 * 2 = 16 semi annual periods
Interest = x / 2 = 0.5x
Call price = Issue price * ( 1 + rate) ^ number of periods
650 = 406 * (1 + 0.5x)¹⁶
(1 + 0.5x)¹⁶ = 650 / 406
0.5x = ¹⁶√ (650/406) - 1
x = 19.24480 / 0.5
x=38.4896
x = 2.34%
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which of the following unites a secondary group in the workplace? a.) a desire for personal understanding b.) a shared worldview c.) a common set of experiences d.) a professional objective
what are some of the things that a business can do to develop a data-savvy workforce? select all that apply.
To create a data- savvy model a business can do the following:
Form data driven leadershipData should be used everywhereCreate your own data dictionary and relevant toolsHire data scientist and team having expertise knowledgeBuild analytical skills and strong courseData needs to be a part of decision makingWhat do you mean by data?
Data can be referred as vital piece of information that provides relevant and up to date information. The role of data has enhanced largely ranging from big MNCs to small food companies.
Data can be of many types
QuantitativeDiscreteQualitativeContinuousTherefor, to create data savvy given points can be considered.
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which of the following statements is (are) true? i. if the firm is producing 5 units of output, it should expand output to increase profits because p > mc. ii. at a price of $16, the firm's profits would rise if it raised its price. iii. the profit-maximizing quantity is 600 units. iv. the profit-maximizing price is $13.
The profit-maximizing pricing in this case is $13, taking into account that the company is producing 5 units and that it must expand because the price is higher than the marginal cost.
What do you mean by marginal cost, exactly?The difference in total production costs caused by creating or producing an extra unit is known as the marginal cost in economics. Divide the variation in production costs by the variation in quantity to determine marginal cost.
What are marginal cost and profit?Marginal cost refers to the additional cost or profit incurred when producing the next item. Marginal product is the additional revenue generated, whereas marginal cost is the additional cost incurred for manufacturing one extra unit.
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assurance services differ from consulting services because group of answer choices assurance services focus on improving information and generally do not involve situations in which one party wants to monitor another. assurance services usually involve situations in which one party wants to monitor another and focus on improving information. assurance services focus on providing advice and involve two-party arrangements. assurance services focus on providing advice and usually involve situations in which one party wants to monitor another.
As assurance services frequently entail scenarios where one party wants to monitor another and concentrate on improving information, they differ from consulting services.
Consulting services are not included in assurance services. Because they are both provided utilizing a similar set of knowledge and abilities, assurance and consulting services frequently overlap. The difference between assurance and advisory services and consulting services is that the former concentrate on information improvement while the latter aim to offer counsel.
Additionally, as opposed to the typical two-party agreements in consulting engagements, assurance and advisory services frequently involve monitoring of one party by another (typically within the same organization).
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nestor is considered to be tech savvy by his friends. he is unafraid to take risks when it comes to trying new products and is always the first in his group to get the latest gizmo. what type of product adopter is nestor?
Nestor is considered to be tech savvy. He is unafraid to take risks when it comes to trying new products and is always the first in his group to get the latest gizmo. Nestor is a innovator type of product adopter.
To be tech savvy is to be comfortable and familiar with using technology. This can mean different things for different people, but generally it means being able to use technology for tasks such as communication, research, problem solving, and entertainment.
For some people, being tech savvy also means having some level of understanding of how technology works and being able to take risk when issues may arise.
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State the reasons/reason for backward bending supply curve
It slopes from left to right. However, in labour markets, we can often witness a backward bending supply curve. This means after a certain point, higher wages can lead to a decline in labour supply. This occurs when higher wages encourage workers to work less and enjoy more leisure time.
Explanation:However, the backwards-bending labour supply curve occurs when an even higher wage actually entices people to work less and consume more leisure or unpaid time. However, in labour markets, we can often witness a backward bending supply curve. This means after a certain point, higher wages can lead to a decline in labour supply. This occurs when higher wages encourage workers to work less and enjoy more leisure time.
Your organization’s network has multiple layers of security devices. When you attempt to connect to a service on the internet. However, you receive a security message from the operating system stating that this service is blocked on your workstation. What could be the probable cause?.
A security message from the operating system stating that this service is blocked on your workstation results due to the probable cause of the host-based firewall settings are blocking the service.
A firewall is security software that functions primarily to stop any unauthorized access to a service. The host of a company might use a firewall in order to block those services that can be a threat to the company or that might be blocked for maintaining privacy.
An organization that has many computers in the work setup tends to use a firewall for blocking any service that is a threat to the company. If a firewall is not used, then there is a security risk.
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the management of hamano corporation would like for you to analyze their repair costs, which are listed below: machine-hours repair costs april 2,140 $ 33,094 may 2,169 $ 33,112 june 2,126 $ 33,089 july 2,198 $ 33,112 august 2,111 $ 33,022 september 2,214 $ 33,176 october 2,137 $ 33,063 november 2,209 $ 33,149 management believes that repair cost is a mixed cost that depends on the number of machine-hours. using the least-squares regression method, the estimates of the variable and fixed components of repair cost would be closest to:
The corrective option is C = $1 per machine hour plus $30927 per month.
What is an example of variable cost?Costs that change with the volume are called variable costs. Raw materials, piece-rate labor, production supplies, commissions, delivery costs, packaging supplies, and credit card fees are all examples of variable costs. The variable costs of production are referred to as the "Cost of Goods Sold" in some accounting statements.
Machine Hours Repair Cost April 2,146.0 33100 May 2,175.0 33118 Jun 2,132.0 33095 Jul 2,210.0 33118 Aug 2,117.0 33028 Sep 2,226.0 33182 Oct 2,143.0 33069 Nov 2,221.0 33155 Slope 1.0
What are fixed and variable costs?In accounting, expenses that are constant over time regardless of the level of outputs are referred to as fixed costs. Expenses that respond directly and proportionally to shifts in the volume or level of business activity are referred to as variable costs.
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