User Account

All Pages

Planning-control and cost management systems

Assignment Help Microeconomics
Reference no: EM132423409

Planning, Control, and Cost Management Systems

The Piedmont School of Music has hired you as a consultant to help in analyzing the behavior of the school's costs. Use the account-classification method of cost estimation to classify each of the following costs as variable, fixed, or semivariable. Before classifying the costs, choose an appropriate measure for the school's activity.

1. Cost of buying books, sheet music, and other academic materials that are supplied to the students by the school.

2. Repairs on musical instruments. The school employs a full-time repair technician. Repair jobs that are beyond the technician's capability are taken to a local musical-instrument dealer for repairs.

3. Fee charged by a local public accounting firm to audit the school's accounting records.

4. Salaries and fringe benefits of the school's full-time teachers.

5. Salaries and fringe benefits of the school's full-time administrative staff.

6. Wages of the school's part-time assistant recital instructors. These employees are hired on a temporary basis. For each student enrolled in the school's music programs, four hours of assistant instructor time are needed per week.

7. Depreciation on the school's musical instruments.

8. Rent for the building in which the school operates.

9. Electricity for the school. The school pays a fixed monthly charge plus $.10 per kilowatt-hour of electricity.

Reference no: EM132423409

Questions Cloud

What are some concerns of implementing new database : What are the pros and cons of each database based on the criteria listed above? What are some concerns of implementing a new database?
What are the primary strengths of the team : How difficult was it to come to a decision regarding team selection? Which potential team member was most difficult to come to a consensus about? Why
Explain the usefulness of the cost of capital : Why are discounted cash flow methods (using present value) to make capital investment decisions superior to other methods that do not use present value?
What do we need to do if the bank cleared canceled check : What do we need to do if the bank cleared canceled check for the wrong amount?
Planning-control and cost management systems : Cost of buying books, sheet music, and other academic materials that are supplied to the students by the school.
The lifeblood of every business organization : According to Franks and Smallwood (2013), information has become the lifeblood of every business organization
How to use filter node to keep only records : How to use Filter node to keep only records for a specific value and find the Interval Variables part, change Default Filtering Method under Interval Variables
What entities constitute full-service kerberos environment : What is the difference between a session key and a master key? What entities constitute a full-service Kerberos environment?
Conduct a swot analysis of aaptiv in the us market : Name three latest consumer fitness trends in the US that can drive Aaptiv's growth and market differentiation?Define and describe the U.S. target audience

Reviews

Write a Review

Microeconomics Questions & Answers

  Demand for the firm''s products is booming

In labor negotiations, failure to reach a contract agreement frequently results in a labor strike or work slowdown. In each of the following situations, identify which side-labor or management-is better positioned to obtain favorable contract term..

  Find the fiscal policy approach

Find the fiscal policy approach utilized by the U.S., Germany, China, and the U.K. from 2008 until present. What approach did each of these countries take, and what was the change in GDP for each one of these economies from 2008 until present? Which ..

  When inflation fell quickly and unemployment rose quickly

Which shock best explains the 1981-1982 recession, when inflation fell quickly and unemployment rose quickly?

  Discuss the process of the loss-minimizing

If the monopolistic competitor described by Exhibit is producing at the profit maximizing (loss-minimizing) level of output, it.

  Will the firm realize profit or loss and why

The firm should maintain output at 600 units, because at this output level, marginal revenue is greater than marginal cost, marginal cost is minimized, and price is the highest.

  Should government officials use regulations

A newspaper headline reads: "State Officials Take on Pricing Regulations to Try to Provide Better, Dependable Income to Dairy Farmers." Is providing dependable.

  Advantages of different ways of reporting approval percent

One of the questions asked whether the respondents had a favorable or an unfavorable opinion of 17 news personalities. Diane Sawyer received the highest rating, with 80% of the respondents giving her a favorable rating.39, What is the population f..

  The demand function for rye bread

In a certain kingdom, the demand function for rye bread was q = 181 - 8p and the supply function was q = 13 + 6p, where p is the price in zlotys and q is loaves of bread.

  Does this time series appear to be stationary

Look at the plot of the logarithm of GDP for Japan in given Figure. Does this time series appear to be stationary? Explain. Suppose that you calculated the first difference of this series. Would it appear to be stationary? Explain.

  What rate of return did the investor receive

In January 2003, an investor bought a convertible debenture bond issued by the XLA Corporation. The bond cost $1000 and paid $60 per year interest in annual pay

  Price change as well as the changes to quantity of imports

The world price of wine is below the price that would prevail in the United States in the absence of trade. Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free t..

  Compare perfect competition and monopolistic competition

Compare perfect competition and monopolistic competition. Describe three features of monopolistic competition that differentiate it from monopoly.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd