Which of the following is a variable cost for an airline? a. insurance b. jet fuel...
Which of the following is a variable cost for an airline?
a. insurance
b. jet fuel
c. property taxes
d. rent of airport space
Homework Answers
Ans. B. Jet Fuel - This is a variable cost for an airline because it varies depending on the usage and is not fixed.
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Which of the following is a variable cost for an airline?
a. insurance
b. jet fuel...
During March 2020, an airline buys 42 million gallons of jet fuel in the Gulf Coast...
During March 2020, an airline buys 42 million gallons of jet fuel in the Gulf Coast to fuel its planes at a weighted average price of $1.75 per gallon. In mid-December of 2019, the airline bought 920 April 2020 crude oil futures contracts at the prevailing futures price of $63.00 per barrel (NOTE: each futures contract has an underlying of 1,000 barrels of crude oil). On the same date that the futures contracts are purchased, the VP observes that the...
Listed below are costs of providing an airline service. Classify each cost as (a) either variable...
Listed below are costs of providing an airline service. Classify each cost as (a) either variable or fixed, and (b) either direct or indirect by selecting the appropriate dropdowns. Consider the cost object to be a flight. Flight attendants and pilots are paid based on hours of flight time. Cost Variable or Fixed Direct or Indirect | 1. Snacks served on airplanes 2. Depreciation on office equipment 3. Oil used in airplanes 4. Luggage handler wages 5. Airport landing fee...
3.56 Frontier Airlines hedged the cost of jet fuelby purchasing options that allowed the airline to...
3.56 Frontier Airlines hedged the cost of jet fuelby purchasing options that allowed the airline to purchase fuel at a fixed price for 2 years. If the savings in fuel costs were $140.000 in month 1. $141,400 in month 2, and amounts increasing by 1% per month through the 2-year option period, what was the present worth of the savings at an interest rate of 18% per year compounded monthly?
5. Which of these is a variable cost for a restaurant? Insurance against damages on the...
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сиптепсиссер тоБез Classify each cost as variable, fixed, or mixed. Insurance on the buildings .. Property...
сиптепсиссер тоБез Classify each cost as variable, fixed, or mixed. Insurance on the buildings .. Property tax bill 1. Sales commission . Nails used to produce furniture 6. Fuel needed to operate the machinery 6. Hourly wages of the assembly-line workers 1. Rental of U-Haul charged based on daily rate plus 1. Depreciation on the building Rent paid for office space 5. Maintenance costs of delivery vans e Textbook and Media
Howell Corporation produces an executive jet for which it currently manufactures a fuel valve; the cost...
Howell Corporation produces an executive jet for which it currently manufactures a fuel valve; the cost of the valve is indicated below: Variable costs Cost per Unit Direct material $920 Direct labor 600 Variable overhead 300 Fixed costs Depreciation of equipment 500 Depreciation of building 250 Supervisory salaries 300 The company has an offer from Duvall Valves to produce the part for $2,000 per unit and supply 1,000 valves (the number needed in the coming year). If the company accepts...
Classify each cost as variable, fixed, or mixed. 1. Insurance on the buildings FixedVariableMixed 2. Property...
Classify each cost as variable, fixed, or mixed.
1.
Insurance on the buildings
FixedVariableMixed
2.
Property tax bill
VariableMixedFixed
3.
Sales commission
FixedMixedVariable
4.
Nails used to produce furniture
FixedVariableMixed
5.
Fuel needed to operate the machinery
MixedVariableFixed
6.
Hourly wages of the assembly-line workers
MixedVariableFixed
7.
Rental of U-Haul charged based on daily rate plus km
driven
VariableMixedFixed
8.
Depreciation on the building
FixedMixedVariable
9.
Rent paid for office space
MixedFixedVariable
10.
Maintenance costs of delivery vans
15) Which of the following is a variable cost? A) property taxes B) salary of plant...
15) Which of the following is a variable cost? A) property taxes B) salary of plant manager C) direct materials cost D) straight-line depreciation expense 16) The fixed costs per unit will A) increase as production decreases B) decrease as production decreases C) remain the same as production levels change D) increase as production increases
Which of the following is most likely to be a variable cost for a firm? Group of answer choices a) the interest payments...
Which of the following is most likely to be a variable cost for a firm? Group of answer choices a) the interest payments made on loans b) the franchiser's fee that a restaurant must pay to the national restaurant chain. c) the payroll taxes that are paid on employee wages d) the monthly rent on office space that it leased for a year
12. The graph shown below best describes which of the following cost patterns? the cost of...
12. The graph shown below best describes which of the following cost patterns? the cost of fuel for a fleet of trucks the cost of water for the local golf course a. b. the cost of computer time for an insurance company where there is a charge of $500 per period plus $.10 per minute of connect time the cost of a typing service where the charge is $1.00 per page up to 100 pages then $.30 per page for...
During March 2020, an airline buys 42 million gallons of jet fuel in the Gulf Coast to fuel its planes at a weighted average price of $1.75 per gallon. In mid-December of 2019, the airline bought 920 April 2020 crude oil futures contracts at the prevailing futures price of $63.00 per barrel (NOTE: each futures contract has an underlying of 1,000 barrels of crude oil). On the same date that the futures contracts are purchased, the VP observes that the...
Listed below are costs of providing an airline service. Classify each cost as (a) either variable or fixed, and (b) either direct or indirect by selecting the appropriate dropdowns. Consider the cost object to be a flight. Flight attendants and pilots are paid based on hours of flight time. Cost Variable or Fixed Direct or Indirect | 1. Snacks served on airplanes 2. Depreciation on office equipment 3. Oil used in airplanes 4. Luggage handler wages 5. Airport landing fee...
3.56 Frontier Airlines hedged the cost of jet fuelby purchasing options that allowed the airline to purchase fuel at a fixed price for 2 years. If the savings in fuel costs were $140.000 in month 1. $141,400 in month 2, and amounts increasing by 1% per month through the 2-year option period, what was the present worth of the savings at an interest rate of 18% per year compounded monthly?
сиптепсиссер тоБез Classify each cost as variable, fixed, or mixed. Insurance on the buildings .. Property tax bill 1. Sales commission . Nails used to produce furniture 6. Fuel needed to operate the machinery 6. Hourly wages of the assembly-line workers 1. Rental of U-Haul charged based on daily rate plus 1. Depreciation on the building Rent paid for office space 5. Maintenance costs of delivery vans e Textbook and Media
Classify each cost as variable, fixed, or mixed.
1.
Insurance on the buildings
FixedVariableMixed
2.
Property tax bill
VariableMixedFixed
3.
Sales commission
FixedMixedVariable
4.
Nails used to produce furniture
FixedVariableMixed
5.
Fuel needed to operate the machinery
MixedVariableFixed
6.
Hourly wages of the assembly-line workers
MixedVariableFixed
7.
Rental of U-Haul charged based on daily rate plus km
driven
VariableMixedFixed
8.
Depreciation on the building
FixedMixedVariable
9.
Rent paid for office space
MixedFixedVariable
10.
Maintenance costs of delivery vans
15) Which of the following is a variable cost? A) property taxes B) salary of plant manager C) direct materials cost D) straight-line depreciation expense 16) The fixed costs per unit will A) increase as production decreases B) decrease as production decreases C) remain the same as production levels change D) increase as production increases
12. The graph shown below best describes which of the following cost patterns? the cost of fuel for a fleet of trucks the cost of water for the local golf course a. b. the cost of computer time for an insurance company where there is a charge of $500 per period plus $.10 per minute of connect time the cost of a typing service where the charge is $1.00 per page up to 100 pages then $.30 per page for...
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