Marcelo is preparing a monthly report for his supervisor regarding plant operations. While Marcelo is happy to report that production increased by 20% this month, he needs to let his supervisor know that material charges, delivery costs and utilities to run the plant also increased significantly. These represent the plant's ________ costs.
Fill in the blank(s) with the appropriate word(s).
variable
Variable costs are costs that vary depending on the number of units produced or sold.
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A bond issue of $50,000 with a carrying value of $49,000 is converted into $10 par value common stock at the rate of fifty shares for each $1,000 bond. The entry to be recorded on the conversion of bonds is:
A) Bonds Payable 50,000 Loss on Retirement of Bonds 1,000Unamortized Bond Discount 1,000Common Stock 51,000 B) Bonds Payable 50,000 Common Stock 25,000Additional Paid-In Capital 25,000 C) Bonds Payable 50,000 Common Stock 25,000Additional Paid-In Capital 24,000Unamortized Bond Discount 1,000 D) Bonds Payable 49,000 Unamortized Bond Discount 1,000Common Stock 25,000Additional Paid-In Capital 25,000
Which of the following statements is true?
a. We as people, our world, and our behavior can be fully understood separately b. We as people and our behaviors can be fully understood separately, but our world cannot be c. The world can be understood separately, but we as people and our behaviors cannot be d. We as people, our world, and our behavior cannot be fully understood separately
Newt, a gun dealer, offers to sell a rare civil war musket to Rush, another dealer, for "$15,000, insurance and shipping paid by buyer." Rush responds, "I accept. Insurance and shipping costs divided equally between seller and buyer." The parties:
a. do not have a contract since the acceptance violated the mirror image rule. b. do not have a contract since Rush's response was a counteroffer. c. have a contact and, in the majority of states, the terms of the offeree control. d. have a contract and, in the majority of states, the different terms will cancel each other out.
A company factored $45,000 of its accounts receivable and was charged a 4% factoring fee. The journal entry to record this transaction would include a:
A. Debit to Cash of $43,200, a debit to Factoring Fee Expense of $1,800, and a credit to Accounts Receivable of $45,000. B. Debit to Cash of $46,800 and a credit to Accounts Receivable of $46,800. C. Debit to Cash of $45,000 and a credit to Notes Payable of $45,000. D. Debit to Cash of $45,000, a debit to Factoring Fee Expense of $1,800, and a credit to Accounts Receivable of $46,800. E. Debit to Cash of $45,000 and a credit to Accounts Receivable of $45,000.