Answer:
Option c is the correct answer.
Explanation:
The depletion expense or charge for the period can be calculated using the following formula,
Depletion expense = [(Cost - Salvage Value) / Total units expected to be mined] * Units mined during the period
Depletion expense = [(1500000 - 250000) / 2000000] * 150000
Depletion expense = $93750
The entry to record the expense is,
Depletion expense 93750 Dr
Accumulated depletion 93750 Cr
So, option c is the correct answer.
Answer:
Ben Lingo's Net Worth Statement:
Assets:
Cash $82
Savings $150
Car $2,000
Inventory $1,200
Total Assets = $3,432
Liabilities:
Car loan $1,500
Credit Union loan $80
Total Liabilities = $1,580
Net Worth = Total Assets - Total Liabilities
= $3,432 - $1,580
= $1,852
a. The population of this study consists of all subscribers to Bloomberg Newsweek in North America.
b. Quantitative variables are those that can be measured numerically. Annual income is a quantitative variable since it can be expressed in numbers.
c. Categorical variables are those that can’t be quantified. They can only take on a fixed number of values. In this case, the question ‘do you own an American express credit card’ can take on only two values – Yes or No. So, the ownership of an American Express credit card is a categorical variable.
d. The data above gives two different values that describe the same population at the same time, it involves cross-sectional data.
Time-series data refers to data that is collected at equally spaced time intervals. For e.g. production of wheat in each year for the last 10 years, the amount of rainfall received over each of the last five years etc.
Cross-sectional data refers to data from many (similar)individual groups at one given point in time. For e.g. Prices of different varieties of corn on a particular day.
e. On the basis of the survey, Bloomberg Newsweek might infer that at least some of its subscribers with an income of $75,000 or more have an American Express credit card.
Answer and Explanation:
The computation is given below:
1.
Given that
Charges per mile = $0.50
Variable Cost per mile driven = $0.20
Fixed Cost = $215
So,
Contribution Margin per mile = Charges per mile - Variable Cost per mile driven
$0.50 - $0.20
= $0.30
Break-even units (in miles) = Fixed Cost ÷ Contribution Margin per mile
= $215 ÷ $0.30
= 717 miles
2.
Revenue for 4,200 miles is
= $0.50 × 4,200
= $2,100
And,
Variable Cost = $0.20 × 4,200
= $840
Now
Contribution Margin = Revenue - Variable Cost
= $2,100 - $840
= $1,260
And,
Fixed Cost = $215
So,
Net Income = Revenue - Variable Cost - Fixed Cost
= $2,100 - $840 - $215
= $1,045
So,
Degree of Operating Leverage = Contribution Margin ÷ Net Income
= $1,260 ÷ $1,045
= 1.2057
3.
Degree of Operating Leverage = % Change in Net Income ÷ % Change in Sales
1.2057 = % Change in Net Income ÷ -25%
1.2057 = % Change in Net Income ÷ -0.25
% Change in Net Income = -0.301425
= -30.1425%
Answer:
Learning curve
Explanation:
Reference is made to the time and cost with respect to the fact that the proposed system is about the same size as others. Learning curve theory teaches to identify cost and time in relation to specific jobs
