If the probability of a house fire is 0.006, the cost of the the fire is $377631, the insurer’s loading costs are $26786, and the number of policies is 1860, then in a competitive insurance market, each policy will cost $____.
In: Economics
what are implicit and explicit cost for an airline industry?
In: Economics
Miller Company’s total sales are $120,000. The company’s direct labor cost is $15,000, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $18,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs
Required:
1. What is the total manufacturing overhead cost?
2. What is the total direct materials cost?
3. What is the total manufacturing cost?
4. What is the total variable selling and administrative cost?
5. What is the total variable cost?
6. What is the total fixed cost?
7. What is the total contribution margin?
In: Accounting
Is cost accounting necessary to properly manage a company?
In: Accounting
An equipment was purchased by a Company at the cost of $875,000. It was depreciated for five years on a straight-line basis to zero-salvage value. The market value of this equipment is $85,000. Tax rate applicable to this Company is 40%. Calculate the After-tax Salvage value. a. 585.000 b. 5121,000 c. 590,000 d. 551,000
In: Finance
In: Economics
Discuss cost classification based on variability and controllability..
In: Accounting
1–12 What is the contribution margin?
1–13 Define the following terms: differential cost, sunk cost, and opportunity cost.
1–14 Only variable costs can be differential costs. Do you agree? Explain.
In: Accounting