What is the level of fixed costs? Nova Insurance sells health insurance. It is interested in determining the costequation for claims processing so it can more accurately budget its claimsdepartment. Information for the high and low costs and volumes for last yearappear below:MonthMarchClaims Processed Activity Cost ($)120,000September 180,00090,000120,000Using the high-low method, with claims as the activity driver, what is thelevel of fixed costs?a. $60,000b. $90,000c. $30,000d. $0.50 per claim

Step 1: Definition of Fixed CostsFixed costs are expenses that do not change with variations in…

Answered: Nova Insurance sells health insurance.…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 9EB: The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method,...

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What is a good response to? The FASB has outlined a specific way to deal with costs that affect more than one accounting period. The primary location for this outline can be found in ASC 270 - Interim Reporting. One example is pre-paid expenses, such as prepaid rent or prepaid insurance. Normally, a company will pay the entire year of insurance in one lump sum. However, this payment will be in "effect" for the entire year so it must be allocated over the 12 months. The FASB outlines that these costs should be allocated appropriately to the report prepared. ASC 270-10-45-13 Next is depreciation. This method of expensing assets over a certain lifetime will require spreading that cost over each month for the entire life of the asset. For this, it should be recorded evenly over each interim period. ASC 270-10-45-14 Finally, amortization of intangible assets. This applies towards assets like trademarks or patents. They are recognized annually, divided by the useful life. The…
The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method, express the companys overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. Predict the overtime wages if 9,000 invoices are processed. Predict the overtime wages if 6,500 invoices are processed. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices processed and overtime wage expense.
The cost data for BC Billing Solutions for the year 2020 is as follows: A. Using the high-low method, express the company’s overtime wages as an equation wherexrepresents number of invoices processed. Assume BC has monthly fixed costs of $3,800. B. Predict the overtime wages if 9,000 invoices are processed. D. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices processed and overtime wage expense.
It is due today. Please help! Can you help me find/solve the following? 1. PRIME COST (F+B+LABOR) 2. TOTAL COSTS OF SALES 3. TOTAL GROSS PROFIT 4. TOTAL INCOME 5. TOTAL INCOME LESS CONTROLLABLE 6. TOTAL OCCUPANCY COSTS 7. INCOME BEFORE INT, DEPR & TAX 8. TOTAL INTEREST EXPENSES 9. TOTAL DEPRECIATION EXPENSES 10. NET PROFIT or (LOSS)
Hello tutor please given correct answer general Accounting
The total number of term life insurance contracts sold in Problem 13 is 199. The following pie chart shows the percentages of contracts sold by each salesperson. a. What are the problems with using a pie chart to display these data? b. What type of chart would be preferred for displaying the data in this pie chart? c. Use a different type of chart to display the percentage of contracts sold by each salesperson that conveys the data better than the pie chart. Format the chart and add data labels to improve the charts readability.
financial account solution need.
Construct an income proforma operating statement using the following information. It should show the following on a whole dollar basis: PGI (rental income and other income itemized), vacancy & collection loss, EGI, operating expenses, OER, and NOI. 64,000 SF warehouse Market rent is $9.25/SF with industrial gross terms. Industrial gross in this market means the landlord pays for taxes, insurance, and common area maintenance (CAM). Market vacancy in this market is 3.5%. Market collection loss is 0.5%. Operating expenses include: insurance: $0.10/SF Real estate taxes: $2.75/SF CAM: $0.20/SF Management fee: 3% of EGI Replacement reserves: Based on a sinking fund factor for $195,000 in 7 years in an interest-bearing account with a rate of 4% (annual compounding).
What is a good response to this classmates post? For this week's discussion, I will answer: What are the purposes of each margin, and what information do they convey? Contribution margin uses the CPV calculation with C=unit margin, P =unit revenue, and V=unit variable cost. The formula is C=P-V. The contribution margin shows the money each product/unit sold makes after removing the unit variable cost. This can be displayed grossly or per unit (Team, 2024). This margin shows what kind of profit and revenue a particular product can generate after covering the fixed costs. Gross margin is calculated by gross margin = revenue-product cost. Subtracting the direct costs (labor and materials) from the company's revenue will allow the company to see what its gross profit is compared to its revenues as a percentage. The main difference is how the costs are classified by function (product vs. period).
Burnham Industries incurs these costs for the month: A. What Is the prime cost? B. What is the conversion cost?

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