Question: 1. Describe what is meant by fixed, variable, and semi-variable costs and give two examples of each. 2. If a tradesperson needs to earn 20,000

1. Describe what is meant by fixed, variable, and semi-variable costs and give two examples of each.

2. If a tradesperson needs to earn 20,000 a year, takes four weeks leave and spends two hours of his eight-hour day travelling, what should his hourly charge be? Discuss the considerations needed for pricing this service.

3. If the price of a product is 12, the fixed costs 1000 and variable costs 2, what is the break-even quantity? (Show your workings).

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Why is it important for us to understand how the global system of financial institutions and markets works? ros57395_ch01.qxd 12/21/04 2:45 PM Page 1 Part 1 The Global Financial System in Perspective...

CANMNMM January of this year. (a) Each item will be held in a record. Describe all the data structures that must refer to these records to implement the required functionality. Describe all the...

answer the question clearly You are building a flight-control system for which a convincing safety case must be made. Would you assign the tasks of safety requirements engineering, test case...

This question involves the use of AGGREGATE linear PYTHOIN regression on the Auto data set. (a) Perform a simple linear regression with mpg as the response and horsepower as the predictor. Describe...

answer all questions promptly What is the maximum segment length of a 100Base-FX netdwork,Thelast character('X', etc) refers to the line code method used. Line code is a pattern of voltage, current...

DETAILS What is the maximum segment length of a 100Base-FX netdwork, The last character ('X', etc) refers to the line code method used. Line code is a patdtern of voltage, current or photons used to...

I WILL REJECT AND REPORT THE ANSWER. ANSWER ALL THE QUESTIONS IN DETAILS What is the maximum segment length of a 100Base-FX network, The last character ('X', etc) refers to the line code method used....

business law For the year ended 30 June 2012, the audit team included a manager, two supervisors, two qualified seniors and three trainees. This audit, which lasted approximately five weeks, was very...

1. Why does Taylor need to know the cost of providing meals to customers? 2. Why does Taylor need to know the cost of the donated meals? 3. Should Bene Petit compute the cost of the donated meals the...

The HamilGine Piston Decision This case addresses many issues that affect insourcing/outsourcing decisions. A complex and important topic facing businesses today is whether to produce a component,...

Describe how the costs of debt and equity differ from the perspective of accounting measures.

Tatum ran a pawn shop. Police became suspicious of one of Tatum's employees, Newton, who was engaged in illegal fencing activities with known burglars. Undercover detectives gained Newton's...

Item4 2.5points Return to question Item4 Chem-Lite Incorporated maintains its accounts on the basis of a fiscal year ending March 31. At March 31, 20X1, the Equipment account in the general ledger...

Ergo Company has one employee who is paid a salary of $8,500 per month. Payroll information for the first month of the year is: Federal and state income tax withheld $1,275 FICA (social security and...

Colours Ltd has three production departments (Blue, Red and Green) and one service department in its factory. A predetermined overhead absorption rate has been established for each of the production...

You are given the annual data in Table 8-5 for the United States for the period 1971 to 1986. Consider the following aggregate demand function for passenger cars: InY i = B 1 + B 2 InX 2t + B 3 InX...

Assume that you are the accountant of ABC Company. The companys home office is in Dubai and it has only one branch in Abu Dhabi. During 2017 the following transactions and events occurred. Part A...

Write a C# program that reads a value and a unit, either dB or Pa, and then prints the closest description from the list below. Sound level L in units of decibel (dB) is determined by L = 20...

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

Consider a post office with two clerks. Three people, A, B, and C, enter simultaneously. A and B go directly to the clerks, and C waits until either A or B leaves before he begins service. What is...

Suppose that you arrive at a single-teller bank to find five other customers in the bank, one being served and the other four waiting in line. You join the end of the line. If the service times are...

If X is exponential with rate , show that Y = [X]+1 is geometric with parameter p = 1 e, where [x] is the largest integer less than or equal to x.