Required information [The following information applies to the questions displayed below.] Professor John Morton has just been appointed chairperson of the Finance Department at Westland University. In reviewing the department's cost records, Professor Morton has found the following total cost associated with Finance 101 over the last five terms: Term Fall, last year Winter, last year Summer, last year Fall, this year Number of Sections offered 2653 3 Total Cost $ 7,500 $ 13,000 $ 10,000 $ 8.000
Required information [The following information applies to the questions displayed below.] Professor John Morton has just been appointed chairperson of the Finance Department at Westland University. In reviewing the department's cost records, Professor Morton has found the following total cost associated with Finance 101 over the last five terms: Term Fall, last year Winter, last year Summer, last year Fall, this year Number of Sections offered 2653 3 Total Cost $ 7,500 $ 13,000 $ 10,000 $ 8.000
Chapter1: Financial Statements And Business Decisions
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lease show work so i may better understand for 3-A and 3-B.
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Required information
[The following information applies to the questions displayed below.]
Professor John Morton has just been appointed chairperson of the Finance Department at Westland University. In
reviewing the department's cost records, Professor Morton has found the following total cost associated with Finance 101
over the last five terms:
Term
Fall, last year
Winter, last year
Summer, last year
Fall, this year
Winter, this year
Number of
Sections
Offered
Required 3A Required 3B
2
6
5
3
4
Fixed cost
Variable cost
Total expected cost
Total Cost
$ 7,500
Professor Morton knows that there are some variable costs, such as amounts paid to graduate assistants, associated with
the course. He would like to have the variable and fixed costs separated for planning purposes.
S
$ 13,000
$ 10,000
3-a. Assume that because of the small number of sections offered during the Winter Term this year, Professor Morton will have to offer
eight sections of Finance 101 during the Fall Term. Compute the expected total cost for Finance 101.
3-b. Can you see any problem with using the cost formula from (2) above to derive this total cost figure?
$ 8,000
$9,500
Complete this question by entering your answers in the tabs below.
Assume that because of the small number of sections offered during the Winter Term this year, Professor Morton will have to
offer eight sections of Finance 101 during the Fall Term. Compute the expected total cost for Finance 101. (Round
intermediate calculations and final answers to the nearest whole dollar amount.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffca6a5ca-3bd9-4780-8bda-794fd6722f54%2F2d10f007-f897-47c6-9a14-54790e2da97e%2F00l580h_processed.png&w=3840&q=75)
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Required information
[The following information applies to the questions displayed below.]
Professor John Morton has just been appointed chairperson of the Finance Department at Westland University. In
reviewing the department's cost records, Professor Morton has found the following total cost associated with Finance 101
over the last five terms:
Term
Fall, last year
Winter, last year
Summer, last year
Fall, this year
Winter, this year
Number of
Sections
Offered
Required 3A Required 3B
2
6
5
3
4
Fixed cost
Variable cost
Total expected cost
Total Cost
$ 7,500
Professor Morton knows that there are some variable costs, such as amounts paid to graduate assistants, associated with
the course. He would like to have the variable and fixed costs separated for planning purposes.
S
$ 13,000
$ 10,000
3-a. Assume that because of the small number of sections offered during the Winter Term this year, Professor Morton will have to offer
eight sections of Finance 101 during the Fall Term. Compute the expected total cost for Finance 101.
3-b. Can you see any problem with using the cost formula from (2) above to derive this total cost figure?
$ 8,000
$9,500
Complete this question by entering your answers in the tabs below.
Assume that because of the small number of sections offered during the Winter Term this year, Professor Morton will have to
offer eight sections of Finance 101 during the Fall Term. Compute the expected total cost for Finance 101. (Round
intermediate calculations and final answers to the nearest whole dollar amount.)
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