1/1.5 / ¼.5= .67%/ 22%= 3.05 Ch 22 #7 1. Key Question A firm has fixed costs of $60 and variable costs as indicated in the table on the following page. Complete the table and check your calculations by referring to question 4 at the end of Chapter 23. 1. Graph total fixed cost‚ total variable cost‚ and total cost. Explain how the law of diminishing returns influences the shapes of the variable-cost and total-cost curves Graph AFC‚ AVC‚ ATC‚ and MC. Explain the derivation and shape of each
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Classify each cost listed below as either a product cost or a period cost for purposes of preparing the financial statements for the bank. 1. The cost of the memory chips used in radar set. * Product Cost 2. Factory Heating Cost * Period Cost 3. Factory Equipment maintenance costs. * Period Cost 4. Training costs for new administrative employees * Period Costs 5. The cost of the solder that is used in assembling the radar sets. * Product costs 6. The Travel
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Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it‚ which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices
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INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000
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in a business because they want the business to continue to produce products. Key stake holders- FedEx FedEx‚ being a large business has some primary stakeholders‚ these are the people who have the most interest and who are key people to the businesses development. The key stakeholders in FedEx include their board of directors/ owners‚ their management‚ their investors and the government. The FedEx board of directors/ owners are key stake holders because they have the overwhelming control of the
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following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
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one thing I really liked is how he took the package he had the whole time he was missing to the person it was suppose to go to. It was a happy ending I thought. A problem he had that was Man vs. Man was with Russian people they had a problem with Fedex. When the truck was on the side of the road the Russians put a boot over the tire so the truck was no longer able
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What is the difference between a fixed and growth mindset? For starters a fixed mindset is where someone believes that their talent or personal trait is fixed or just comes to them naturally. A growth mindset is where you believe that you can learn more and get better and your intelligence can expand and you can learn more. What are some real life examples of what a fixed mindset might look like? It could be saying I got a 70% on my math test and I can’t do any better on it so I won’t retake. It
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A fixed mindset is when people believe their basic qualities‚ like their intelligence or talent‚ are simply fixed traits. They spend their time documenting their intelligence or talent instead of developing them. They also believe that talent alone creates success—without effort. They’re wrong. People in a fixed mindset believe you either are or aren’t good at something‚ based on your inherent nature‚ because it’s just who you are. The fixed mindset is the most common and the most harmful. The
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Chapter 1 Basic Cost Concepts Learning Objectives • To understand the meaning of different costing terms to understand different costing methods • To have a basic idea of different costing techniques • To understand the meaning of cost sheet In order to determine and take a dispassionate view about what lies beneath the surface of accounting figures‚ a financial analyst has to make use of different management accounting techniques. Cost techniques have a precedence over the other
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