Ryan produces hair clips and earrings. Celia also produces hair clips and earrings, but Ryan is better at producing both goods. in this case, trade could benefit both Celia and Ryan.
What is meant by absolute advantage?This is the term that is used to refer to the advantage that a person would have over the production of goods and services. That is the person is able to have more efficiency in the production of a good.
What is meant here is that the individual would have to use less resources in the production of a good or a service. Hence we can say that Ryan produces hair clips and earrings. Celia also produces hair clips and earrings, but Ryan is better at producing both goods. in this case, trade could benefit both Celia and Ryan.
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Florence deposits $6,000 in an ordinary annuity at the end of each quarter in an account earning 6 percent interest compounded quarterly. what is the future value of the account in 2 years?
Answer:
$6021.60
6000+(6000×0.6^2)=
=6000+21.6=6021.6
Every project has a starting date and an ending date. true false
Every project has a starting date and an ending date is True.
All projects have a beginning and a stop. they have got a group, a price range, a timetable, and a hard and fast of expectancies the team desires to fulfill. each mission is specific and differs from recurring operations and continued activities of a company due to the fact tasks reach a conclusion as soon as the aim is completed. A Gantt chart is a type of bar chart, developed with the aid of Henry Gantt, that illustrates a mission timetable.
A venture is a chain of tasks that want to be finished to attain a particular outcome. An undertaking can also be defined as a fixed of inputs and outputs required to gain a particular purpose. projects can vary from easy to complex and may be managed by way of one character or a hundredGantt charts are smooth to examine and are normally used to display agenda activities. these charts display the beginning and end dates of the terminal elements and precis elements of a venture.
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an increase in supply will have what effect on equilibrium price and quantity? a.price will decrease; quantity will increase. b.price will increase; quantity will decrease. c.both price and quantity will increase. d.both price and quantity will decrease.
When there is an increase in supply, the effect on equilibrium price and quantity is a.price will decrease; quantity will increase.
What happens when supply increases?When supply increases, this will lead to a rightward shift in the supply curve. The new equilibrium point will therefore be pushed to the right.
This new equilibrium point would point to more quantity provided to the market but will also lead to a lower price as a result of reduced scarcity of the good or service in question.
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which cost would not be included in an operation's food costs? linen coffee produce paper wrappers for to-go foods questions 6, 7, 8, 9 and 10 utilize the following information:
Cost of Linen would not be included in an operation's food cost.
How to calculate food cost?The cost of food is the ratio of difference between the price of your ingredients and raw materials and the money you make from selling your menu items.
cost of food = ratio of (cost of raw materials) / (ingredients) and revenue generated
The price of meals in a restaurant can be calculated in a variety of ways. To calculate their meal cost per serving, some people opt to break down the price of each component in a recipe.
Others figure it out based on their Cost of Goods Sold (COGS), which accounts for the worth of your inventory at a particular point in time and displays the cost of food over a set time frame. With the help of this technique, you can determine your desired food cost % and have a better sense of how much it costs you to prepare your meals.
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On september 1 of year 1, a law firm collected cash for services to be provided in year 2. based on this information, how will the recognition of earned revenue affect the year 2 balance sheet?
Liabilities will decrease and equity will increase.
What do you understand by Liabilities?A liability is a financial debt that an individual or organization owes. Liabilities are finally paid through the transfer of economic advantages like money, goods, or services.
Liabilities have three major characteristics: they are a type of borrowing; they are a current obligation that binds an entity; and they will diminish assets upon settlement.
Liabilities include things like -
bank debt
mortgage debt
Payment due to suppliers (accounts payable)
unpaid wages.
tax debt.
Liabilities are initially valued and documented using the cost principle, just like assets. In other words, the liability is calculated and recorded at the asset's or service's current market value at the time it is incurred.
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All activities associated with transforming inputs into the final product form are known as ______ in the value chain.
Operations encompass all tasks done to change inputs into the final product form, including machining, packaging, assembly, testing, printing, and facility operations.
The harvesting of value from a business's assets is referred to as business operations. The two types of assets are tangible and intangible. Rent is an illustration of value that is derived from a physical asset, such as a building. A royalty is an illustration of value created from an idea or other intangible asset. A wide range of activities are referred to as business operations. In essence, it refers to everything a business does on a daily basis to remain operational and generate revenue. Therefore, those activities can vary greatly from one company to the next. Consider an online retailer.
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What type of contract binds a third-party administrator to provide administrative services to an employer for a fixed fee per employee?
Administrative Services Only, or simply ASO, contract is the type of contract that binds a third-party administrator to provide its administrative services to an employer for a fixed fee per employee. Therefore, the option C holds true.
What is the significance of a contract?A contract can be referred to or considered as a legal agreement between two or more parties to do or abstain from doing anything as per the terms mentioned under the document relating thereto.
Therefore, the option C holds true and states regarding the significance of a contract.
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The missing options to the incomplete question have been added below for better reference.
What type of contract binds a third-party administrator to provide administrative services to an employer for a fixed fee per employee?
A. JV contract
B. At-will contract
C. ASO contract
D. Express contract
which of the following is an example of a capital input? group of answer choices a computer a share of stock an hour of a worker’s time $50,000
An example of capital input is a computer.
What is capital input?
Capital input refers to any type of tool, machinery, or building that is used by the company in the production of goods or services.
In this question, we have to identify the example of capital input from the given option. From the given examples a computer is an example of capital input because the computer is used by the company to produce services or do any other business-related work. Hence, the example of capital input is a computer.
Option (a) is not correct because it is not used in production.
Option (c) is not correct because it is not used in production.
Option (d) is not correct because it is not used in production.
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Which ratio assesses how efficiently a firm uses its fixed assets? multiple choice
a. capital intensity ratio
b. current ratio
c. average collection period
d. fixed asset turnover
The ratio that assesses how efficiently a firm uses its fixed assets is the fixed asset turnover (option d).
What is the fixed asset turnover?A fixed asset turnover measures the effieicincy with which a firm utilizes the use of its fixed cost. The fixed asset turnover is the ratio of the firm's revenue to its average fixed assets. The fixed asset turnover is an example of an activity ratio.
Fixed asset turnover = revenue / average fixed asset.
The higher the fixed asset turnover ratio, the more efficient the firm is. If the fixed asset turnover is below the average for other firms in its industry. it is a negative indicator.
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To enter transactions on the right side of a t-account means you will credit ____________ the account and will cause a(n) ___________ in a liability account.
To enter transactions on the right side of a t-account means you will credit the account and will cause an increase in a liability account.
What is a t-account?An account in the general ledger is depicted graphically as a T account. Placed above the "T" is the account's name (sometimes along with the account number). The left of the "T" are entries that are debits, while the right of the "T" is entries that credit. At the bottom of each "T" account, the grand total sum is displayed. To display all of the accounts impacted by an accounting transaction, a group of T accounts is often grouped together.
In double-entry accounting, the T account serves as a key teaching tool by demonstrating how one side of a transaction is mirrored in another account.
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beauty works sells its cologne wholesale for $9.75 per bottle. the variable costs of producing x thousand bottles is -3x 2 3480 x-325 dollars, and the fixed costs of manufacturing are $260,000. find expressions for the revenue, cost, and profit from selling x thousand items.
The expression for revenue is $9.75x
The expression for cost is -3x² + 3480 x - 259,740
The expression for profit is $9.75x - $(-3x² + 3480 x - 259,740)
What is the expression for cost, revenue and profit?Revenue is the total amount earned from selling a product. It is determined by multiplying the selling price by the total unit sold.
Revenue = price x total unit sold
$9.75 × x
= $9.75x
Cost is the sum of fixed cost and variable cost. Fixed cost is the cost that does not vary with the output produced. It remains constant regardless of the level of output. An example of fixed cost is rent. Variable cost is the cost that changes with the level of output. eg. wages.
Cost = fixed cost + variable cost
-3x² + 3480 x - 325 + $260,000
-3x² + 3480 x - 259,740
Profit is revenue less cost.
Profit = revenue - cost
$9.75x - (-3x² + 3480 x - 259,740)
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advertising occurs when a consumer is ""unjustifiably injured"" or there is a ""violation of public policy.""
Deceptive advertising occurs when a consumer is "unjustifiably injured" or there is a "violation of public policy." false.
What is consumer?A consumer is a person or a group that wants to order, orders, or utilizes purchased items, products, or services primarily for personal, social, family, household, and comparable purposes that are not directly tied to entrepreneurial or company activity. (An individual who purchases goods and services for their own consumption)
President John F. Kennedy defined consumers to the US Congress on March 15, 1962, saying that "Consumers, by definition, comprise us all." World Consumer Rights Day, which is now observed on March 15, was inspired by this lecture, which served as its foundation. In his address, John Fitzgerald Kennedy underlined the government's essential duty to consumers to support the exercise of their rights, including:
The right to safety: To be b from the promotion of things that are harmful to one's health.
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The present value of a series of cash flows is the amount you would need today to exactly duplicate those future cash flows. True or false?.
True . The present value of a series of cash flows is the amount you would need today to exactly duplicate those future cash flows,
Recognizing Cash Flow
The amount of money that flows into and out of a business is referred to as its cash flow. Sales provide income for businesses, which also incur costs. They might also make money from investments, royalties, licensing agreements, and interest. Additionally, they could provide things on credit with the promise of payment later.
Evaluating the scope, timeliness, and accuracy of financial reporting is one of the most important objectives.
One of the most crucial goals of financial reporting is to evaluate the size, timeliness, and unpredictability of cash flows as well as their sources and destinations. It is crucial for determining the liquidity, adaptability, and general financial success of an organization.
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Occupational diversity which profession has trouble finding work if a countries educational system has produced more than the country can employ?
When it comes to job creation, economists are always looking at two things; how many jobs are being created and what kind of jobs are being created.
While there’s no shortage of middle-class jobs in Some countries, high-paying jobs might be getting harder to come by, especially in the manufacturing industry.
The Engineering ( Tech ) profession has trouble finding work if a country's educational system has produced more than the country can employ.
Not only Engineering ( Tech ) profession but also other professions like Doctors, Architecture, building and Surveying professionals, Software Development Specialists, Information Technology Project Management Specialists, Natural Sciences Managers, Directors, Coordinators, Advertising, Marketing, Public Relations and Sales Managers, Business Operations Specialists in Canada, Financial Auditors and Accountants (includes accounting technicians), Office Support Workers/Assistants including Administrative Officers & Material Recording-Keeping, Preparing and Processing Occupations including Data Entry Key/Data Processors.
But Coming to the most trouble finding Jobs, It would be Engineering ( Tech ) profession & Doctors.
Engineering tech: Engineers are especially susceptible to having difficulty finding work when a country's education system has produced more than what the country can employ, and for good reason:
According to the U.S. Bureau of Labor Statistics (BLS), less than 12% of graduating engineering students have an occupation in engineering after graduation, with that number being closer to 6% if you remove graduates from abroad or those who went on to study at graduate school.
Even then, the BLS reports that recent grads had just a 27% employment rate in recent years. The remaining engineering techs find jobs as construction laborers, welder helpers, drafters, or production managers-- positions that require much less specialized knowledge than those listed above.
Doctors & Other Professions:
#1-Doctors-it takes 13 years of schooling to become a doctor and they have a hard time getting employment when there are many in one place (top 10 countries).
#2-Software engineers- even though they need 8 years of school, and high-level skills, if too many people try to get into this field it is difficult to find work in software engineering.
Even though they need 12 years of education to become a dentist, in some places dental professionals also experience difficulties finding work due to an oversupply.
#3- Teachers - while they only require 4 years of education before becoming certified as teachers, some countries such as Japan are experiencing difficulty hiring them because of their society's social skills values of caring for children and families instead of teaching.
Hence, Engineering ( Tech ) profession faces the most trouble finding work if a country's educational system has produced more than the country can employ.
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return on investment = multiple choice question. average operating assets ÷ net operating income net operating income ÷ segment revenue net operating income ÷ average operating assets segment revenue ÷ net operating income
Residual Income- average operating assets ÷ net operating income net operating.
What is Residual Income?The money that keeps coming in after an initial time and resource commitment has been made is known as residual revenue. Royalties from artists, rental income, interest income, and dividend payments are a few types of residual revenue.
Other circumstances in which the word "residual income" is used include:
The term "residual income" in personal finance can refer to a person's discretionary income or the total sum of money left over after meeting all of their personal commitments and debts.
In corporate finance, residual income is a metric for gauging how well a company is doing that takes into account all revenue received after all pertinent capital costs have been covered.
Hourly pay does not produce personal residual income. Instead, it calls for a substantial initial outlay of cash, time, or both, with the primary goal of generating ongoing income.
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Marc, a single taxpayer, earns $64,800 in taxable income and $5,480 in interest from an investment in city of birmingham bonds. using the u.s. tax rate schedule for 2021, how much federal tax will he?
Federal Tax = $4,617.50 + (22%*(64800-40125))= $10046
Tax liability is calculated on the taxable income of $64800 using tax rate schedule 2020 for single taxpayer. Interest from an investment in city of Birmingham bonds are not taxable.
Your financial obligation to local, state, and federal governments as well as other taxing bodies is known as your tax liability (e.g., the IRS). You owe your creditor money when you owe taxes. This is a binding debt. Tax obligations can exist for both people and corporations.
The government utilizes tax revenue to pay for administrative and social activities. Retirement and disability benefits, for instance, are paid for by Social Security taxes.
Tax obligations are current obligations. Debts with a one-year payment period are considered current liabilities. In most cases, short-term liabilities result from regular company activities. On your small business balance statement, include tax liabilities alongside other current debts.
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The appropriate discount rate to use when analyzing a bond refunding decision is:______.
The appropriate discount rate to use when analyzing a bond refunding decision is the after-tax cost of new debt.
In a discounted cash flow (DCF) analysis, the interest rate used to calculate the present value of future cash flows is known as the discount rate. discount rate aids in determining if the present-day capital outlay required to fund a project or investment will be greater than the value of the projected future cash flows from that project or investment. A discount rate is the rate of return applied to reduce future cash flows to their present value in corporate finance investment. the discount rate is frequently referred to as the Weighted Average Cost of Capital (WACC) of a company, the needed rate of return, or the hurdle rate that investors anticipate achieving in relation to the risk of the investment.
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What is the difference between an adjusted trial balance and an unadjusted trial balance?
An adjusted trial balance is used after all revisions to the journal have been made, whereas an unadjusted trial balance is used when the entries in a certain period are not yet considered final.
What is Trial Balance ?A trial balance is a bookkeeping worksheet that compiles the balances of all ledgers into equal debit and credit account column totals. A trial balance is prepared on a regular basis, usually at the end of each reporting period.
A trial balance is created to check that the entries in a company's bookkeeping system are mathematically correct. All business transactions for a corporation over a specific period are included in the debits and credits, including the sum of such accounts as assets, expenses, liabilities, and revenues.
Although the debits and credits in a trial balance must be equal, there may still be flaws or errors in the accounting processes.
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is the ability to make something using fewer resources than other producers use. a. division of labor b. specialization c. comparative advantage d. absolute advantage
Absolute advantage is the ability to make something using fewer resources than other producers use .
What is meant by Absolute Advantage ?
Absolute advantage is a term used in economics to describe a party's better capacity for output. It specifically means the capacity to create a specific commodity or service for less money (i.e., more effectively) than a rival. (A "party" can be any entity that produces goods or services, such a firm, an individual, a nation, etc.)
As an alternative to the then-dominant theory known as mercantilism, which supported rigorous government regulation of international trade and was based on the idea that nations should produce as much of everything as possible.
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__________ is a not-for-profit system in which all policyholders are members of the company; when premiums exceed losses, surplus funds are distributed among the members.
Mutual fire insurance is a not-for-profit system wherein all policyholders are members of the company; when charges exceed losses, surplus funds are disbursed among the individuals.
A company business enterprise is a prison entity formed through a group of people to engage in and function a commercial enterprise—commercial or industrial—employer. An agency can be prepared in numerous ways for tax and financial legal responsibility functions relying on the corporate law of its jurisdiction.
The company of an enterprise is a synthetic entity recognized by means of the law as a criminal person that exists independently with rights and liability. which means that an agency is treated as a separate character from its members. it's far owned through as a minimum one shareholder and managed by way of as a minimum of one director.
A company is a body corporate or an integrated commercial enterprise agency registered below the agencies act. it can be a limited or an infinite organization, a private or a public organization, an employer constrained by way of assurance or a business enterprise having a proportion capital, or a community hobby enterprise.
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One of the most important things a researcher can do for a manager is to provide the same perspective of the problem/opportunity.
a. true
b. false
False - Offering the same viewpoint of the issue or opportunity to a manager is one of the most crucial things a researcher can perform.
Researchers work with managers to ensure that the decision problem is defined accurately and properly. It can be beneficial at times for someone other than a manager—someone from outside the company—to approach a situation with "fresh eyes." In order to find a hole in what is currently known about your issue, read recent research, theory, and arguments on it. This will help you identify a research problem.
You could look for a situation or event that hasn't been well researched. a clash between two or more points of view. Through segmentation and the marketing mix, problem-solving research identifies approaches to address such issues. When you want to make your business the greatest in its industry, research is crucial for problem identification and problem solving.
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The two methods companies can use to convert receivables to cash before they are due includes selling them and pledging them. True or false
It is completely true that a company can follow the methods like selling and pledging receivables before they are due in order to convert them into cash. Therefore, the statement given above holds true.
What is the significance of receivables?Receivables can be referred to or considered as the assets of the company, represented under the head in the balance sheet of the company. The receivables of a firm are not due for reception, but assumed as good debts for the firm.
Therefore, the significance regarding receivables has been aforementioned, and the statement given above holds true.
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Answer:
True
Explanation:
Khan products company uses a job order cost system. for a number of months, there has been an ongoing rift between the sales department and the production department concerning a special-order product, tc-1. tc-1 is a seasonal product that is manufactured in batches of 1,000 units. tc-1 is sold at cost plus a markup of 40% of cost. the sales department is unhappy because fluctuating unit production costs significantly affect selling prices. sales personnel complain that this has caused excessive customer complaints and the loss of considerable orders for tc-1. the production department maintains that each job order must be fully costed on the basis of the costs incurred during the period in which the goods are produced. production personnel maintain that the only real solution to the problem is for the sales department to increase sales in the slack periods. andrea parley, president of the company, asks you as the company accountant to collect quarterly data for the past year on tc-1. from the cost accounting system, you accumulate the following production quantity and cost data. quarter 1 2 3 4 direct materials 96000 336000 72000 336000 direct labor 36000 126000 27000 126000 manufacturing overhead 100000 141860 87000 126000 total 232000 603860 186000 588000 production in batches 4 14 3 14 unit cost (per batch) 58000 43133 62000 42000 c) restate the quarterly data by applying overhead as a set rate per batch
Restating the quarterly data by applying overhead as a set rate per batch is given in the attached picture.
Variable overhead refers to the shifting manufacturing expenses associated with running a firm.
Variable overhead expenses change in proportion to manufacturing output.
Variable overhead is distinct from typical overhead expenditures related with administrative chores and other set budgetary requirements.
[tex]Variable Manufacturing Overhead Per Batch = \frac{Change In Manufacturing Overhead}{Change In Number Of Batches}[/tex]
= [tex]\frac{(Manufacturing Overhead Quarter 2 - Manufacturing Overhead Quarter 1)/}{(Batches Quarter 2 - Batches Quarter 1)}[/tex]
= ($153,000 - $105,000)/(11 - 5)
= $48,000/6 batches
= $ 8,000 per batch
Fixed Manufacturing overhead = $153,000 - (11 batches*$8,000)
= $153,000-$88,000
= $65,000
Hence, the restatement of quarterly data is as shown in the attached picture.
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a risk assessment involves two of the following: group of answer choices identifying risks mitigating risks purchasing protection solutions prioritizing risks
A risk assessment involves identifying risks and prioritizing risks.
Risk assessment refers to the general process or approach of identifying hazards and risk factors that have the potential to cause harm (hazard identification). Analyze and assess the danger associated with that threat (risk analysis, and risk evaluation).Risk prioritizing is the process of recognizing all project hazards and then determining which ones are the most serious so that they can be handled first. The likelihood of a risk and the possible harm it causes to the organization should be used to prioritize.After reviewing the hazards of a project, your team should assign a risk rating to each one by entering the risks into a risk matrix. The actual evaluation is done by the project team and risk management professionals; these judgments are frequently eased by using previously set risk levels.Thus, this is what it meant by identifying and prioritizing risks.
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Who benefits most from a defined benefit plan? a) employees with more years until retirement b) all benefit the same c) older employees d) younger employees
Older employees are most benefited from Defined benefit plan.
Who is benefited the most from Defined benefit plan and why?Defined benefit plans is meant to provide fixed and established benefits for older employees who are about to retire or at their retirement.
The fixed benefits provided by this plan is valued by employees.
On the side of employer, business will contribute than (deduct) the defined plans for contribution.
A Defined benefit plan is a retirement plan sponsored by the employer and are computed with the help of various factors from the salary and employment history.
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holding other factors constant, if bad weather destroys the annual crop for carrots, it causes the supply curve for carrots to a. shift to the left, causing the prices of carrots to rise b. shift to the left, causing the prices of carrots to fall c. stay the same d. the supply curve does not shift. only t
Holding other factors constant, if bad weather destroys the annual crop for carrots, it causes the supply curve for carrots to Shift to the left, causing the prices of carrots to rise
The supply curve shifts to the left when the demand remains constant while the supply declines. At the previous equilibrium level, excess demand develops as supply declines. In actuality, there is more rivalry among the consumers, which inevitably drives up the price.
A decline in demand and an increase in supply occur simultaneously with an increase in price. This keeps happening until a fresh equilibrium level is reached. Additionally, the equilibrium quantity decreases while the equilibrium price increases.
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Ford motor company engages in partnerships with its suppliers, component part makers, unions, transport companies, and dealerships—collectively known as its.
Ford Motor Company enters into relationships with its suppliers, component part manufacturers, unions, transport firms, and dealerships, which are referred to as its Corporate Partners. Ford Motor Company, also known simply as Ford, is a global American automaker with headquarters in Dearborn, Michigan.
A corporate partnership is a connection between a business and a nonprofit organization. Typically, a charity is given money, commodities, or services in exchange for something the business partner perceives as advantageous.
As we carry out our duties, make plans for the future, and increase our knowledge of products, changes, and trends, business partner relationships serve as crucial links and resources. When a product or service evolves or when a new product or service is required, developing ties with potential corporate partners can be helpful.
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in the integrative negotiation process, when creating and claiming value, the goal is to push the potential negotiation solutions to the pareto efficient frontier. which of the following describes the pareto efficient frontier?
A statement which describes the Pareto efficient frontier is: B. the point where there is no agreement that would make any party better off without decreasing the outcomes to any other party.
What is the Pareto efficient frontier?Pareto efficient frontier is also referred to as Pareto efficiency or Pareto optimality which was named after Vilfredo Pareto and it can be defined as an economic system in which no additional changes can make a person (party) better off without making at least one person (party) worse off.
This ultimately implies that, when there's a maximum level of efficiency in the allocation of goods and resources in an economy and no further changes can be made without making at least one person (party) worse off. Thus, the Pareto efficient frontier can only exist in theory but not in reality.
In this context, we can reasonably infer and logically deduce that the point where there isn't an agreement that would make any person (party) better off without decreasing the outcomes to any other person (party) best describes the Pareto efficient frontier.
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Complete Question:
In the integrative negotiation process, when creating and claiming value, the goal is to push the potential negotiation solutions to the Pareto efficient frontier. Which of the following describes the Pareto efficient frontier?
A. the point where the negotiations are entering the closing offer stage
B. the point where there is no agreement that would make any party better off without decreasing the outcomes to any other party
C. the point where the negotiations are entering new areas not previously discussed
D. the point where one party is clearly winning the negotiations
suppose you owe a creditor $10,000 due in a single payment in 5 years. how much should your creditor be willing to accept now if he can earn 8% on his money?
To calculate the worth that a creditor should be helpful to accept now, we ought to solve the equation:
X=10,000/1.085
Solving for X.This equation shows the parity of X and the present significance of $10,000 5 years from now using a rate of 8%.
Solving for X.
X=10,0001.4693
X= 6,805.83 X= 6,805.83
The creditor should be willing to accept $6,805.83 now in exchange for future payment of $10,000 5 years from now
we need to solve the equation:
200,000 = 100,000 × 1.07 x 200,000 = 100,000 × 1.07x
where x is the numeral of years it will bear to double the $100,000 asset (= $200,000 )
Decoding for X.
200,000
100,000 = 1.07x= 2200,000
100,000 = 1.07x= 2
x × log1.07 = log2x × log1.07 = log2
x = log2 log1.07 x= log2 log1.07
x=0.30100.029
4 x= 0.30100.0294
x =10.2448 x=10.2448
It will take 10.2448 years for a $100,000 investment to double with 7% annual interest.
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What is the total period cost for the month under the variable costing approach? a. $290,600 b. $112,200 c. $231,200 d. $343,400
(d). $343,400
Period cost = Variable selling and administrative cost + Fixed manufacturing overhead + Fixed selling and administrative cost
= $8 ? 6,600 + $231,200 + $59,400
= $52,800 + $231,200 + $59,400
= $343,400
What are variable costs?Variable costs are the total of all production's marginal costs. They may also be regarded as ordinary expenses. The two elements of the total cost are fixed costs and variable costs. Direct costs are expenses that are directly related to a certain cost object. But not all variable costs are related to direct expenses. For instance, variable overhead costs in manufacturing are variable expenses that are indirect costs rather than direct costs. Because they change depending on how many units are produced, variable costs are also known as unit-level costs.
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