When the budgeted expenses exceed the actual expenses, the result is a negative actual net income. b. When the actual expenses exceed the actual income, the result would be a negative dollar amount. When the budgeted income is less than the actual income, the result is a negative actual net income. d.
Each credit hour corresponds to a minimum of 3 hours of student engagement per week for a traditional 14-week course or 6 hours per week for a 7-week course. This time may be spent on discussions, readings and lectures, study and research, and assignments.
To find the fixed cost of production, start by looking at a business's profit and loss account typically found in its annual financial reports. Fixed cost can include insurance premiums, setup costs, normal profit, depreciation, rent expense, selling expense, loan payments and more. 2. Find the variable cost of production
At a sandwich shop, sandwiches cost $1.50 each and fruit drinks At cost $.40 each. If a bill for an order of 20 items was $17.00, how many fruit drinks were ordered?
Some duties are performed only certain times of the year. For example, budget planning for the coming fiscal year may take a week and a half (60 hours) and is a major task, but this work is performed one time a year.
This is designed to help you calculate percentages of time that you perform various duties/tasks. The figures in the following tables are based on a standard 40 hour work week, 174 hour work month, and 2088 hour work year.
If a recurring duty is performed weekly and takes the same amount of time each week, the percentage of the job that this duty represents may be calculated by dividing the number of hours spent on the duty by 40. For example, a two-hour daily duty represents the following percentage of the job: 2 hours x 5 days/week = 10 total weekly hours 10 hours / 40 hours in the week = .25 = 25% of the job.
You can learn the variable cost of production by again referencing the profit and loss account. Some instances of the variable cost of production include things like raw materials, manufacturing labor directly related to production, packaging and more.
To find the fixed cost of production, start by looking at a business's profit and loss account typically found in its annual financial reports. Fixed cost can include insurance premiums, setup costs, normal profit, depreciation, rent expense, selling expense, loan payments and more. 2.
What to include in average cost. Average cost includes fixed costs, like those necessary for production, that remain the same no matter the output. An example of a fixed cost is the building space and equipment used to assemble a product. Average cost also includes variable costs.
Average cost differs from marginal cost in one key way. Average cost is all about the total cost per unit of output, whereas marginal cost concerns the cost involved in producing an additional unit of a product or service. Marginal cost is often known as the cost of the last unit and can be calculated in three basic steps: