Fixed and variable costs for oil company

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WebDec 30, 2024 · Businesses incur two types of costs: fixed costs and variable costs. Fixed costs remain the same throughout a specific period. Variable costs can increase or … WebVariable cost per unit Month Number of Oil Changes Operating Expenses 3,800 36,800 January February 3,200 32,800 March 3,400 33,800 April 3,300 33,300 May 4,200 $ 37,800 June 3,500 34,300 Print Done Previous question Next question

Fixed and Variable Costs - Overview, Examples, Applications

WebFeb 23, 2024 · Variable costs: Fuel and oil. Maintenance (e.g., maintenance labor, parts airframe/engine/avionics, engine restoration, thrust reverser overhaul, propeller … WebDo Oil Companies Have Fixed & Variable Costs of Production? Fixed Costs. Fixed costs for a business are costs that do not change based on the level of production. For example, if a... Variable Costs. A variable cost … soho fontshop

Solved Use the high-low method to determine the variable and

Weblawn mower: $200. fuel costs/hr:$4. labor wages/hr: $10. Each hour, the company earns $30 in revenue and pays $14 in costs—bringing in $16 net. With 5 customers, the company will mow for 10 hours, earning $300, and will spend $140 in variable costs and $200 in fixed costs, for a net loss of $40. WebOct 12, 2024 · There are two types of costs: fixed and variable. Fixed costs remain the same no matter the degree of output such as rent or mortgage payments. Variable costs change depending on the... soho fly shop

Solved Schriever Corporation is an oil well service company Chegg…

WebFixed Element per Month Variable Element per Well Serviced Revenue $4,500 Employee salaries and wages $56,400 $ 900 Servicing materials $ 700 Other expenses $35,400 … WebJan 17, 2024 · Fixed costs are one of two types of business expenses. The other is variable costs. Fixed costs are expenses that a company pays that do not change … slp teaching pronounsWebVariable costs are any costs that are tied to the volume of crude that a refinery processes, in contrast to fixed costs which are not volume dependent. Typically in a refinery, these include energy, catalysts, and chemicals. FIND OUT MORE. Downstream capabilities. soho food and jazz addison texas

"WebMar 14, 2024 · Example of Variable Costs. Let us consider a bakery that produces cakes. It costs $5 in raw materials and $20 in direct labor to bake one cake. In addition, there are fixed costs of $500 (the equipment used). To illustrate the concept, see the table below: Note how the costs change as more cakes are produced. " - Fixed and variable costs for oil company

Fixed and variable costs for oil company

Solved Maintaining low fixed costs and high variable costs - Chegg

WebPurely fixed costs = $900,000/yr Purely variable costs = $2.50/CMD Semivariable (mixed) costs = $100,000/yr + .50/CMD Compute the company's estimated total cost per CMD if the following miles are logged by drivers during the year: The estimated total cost per CMD at 400,000 miles logged is: $5.50 900,000/400,000 = 2.25 100,000/400,000 = .25 WebThe company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Well Serviced …

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WebQuestion: Sathre Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Well Serviced $4,500 $ 900 $ 700 $56,400 Revenue Employee salaries and wages … WebTotal mixed (operating) cost-Total variable cost = Total fixed costs $37,800-$19,000 = $18,800 Complete Rapid Lube 's operating cost equation. (Enter the variable cost to the …

WebThe company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. The planning budget for May was based on 36 wells serviced, but a total of 31 wells were actually serviced in May. The activity variance for net operating income for May would have been closest to: Multiple Choice $14,000 F $9,800 F WebMar 14, 2024 · Total January fixed costs: $1,700 B. January variable expenses: Cost of flour, butter, sugar, and milk: $1,800 Total cost of labor: $500 Total January variable costs: $2,300 If Amy did not know which …

WebDec 12, 2024 · Fixed costs vs variable costs vs semi-variable costs Taken together, fixed and variable costs are the total cost of keeping your business running and making … WebYou’ll have a range of fixed costs and variable costs that you’re required to pay each month. If you add up everything you spent over the course of the month, it equals $4,000 in total costs. Then factor in all the tacos you sold throughout the month — 1,000 tacos.

WebAll of the above Maintaining low fixed costs and high variable costs rather than high fixed costs and low variable costs: A. Makes a company more susceptible to profit fluctuations due to volume changes - True. Higher variable costs mean that profits will be more sensitive to changes in sales volume, as these costs increase or decrease along ...

WebFixed costs are also frequently subdivided into costs associated with maintaining the refinery (maintenance costs), costs of running the refinery (operating costs), and costs of managing the refinery (supervisory, overhead, support) Variable costs are any costs that vary with the level of refinery throughput. soho flower shopWebMar 14, 2024 · Variable Cost Fixed Cost; Definition: Costs that vary/change depending on the company’s production volume: Costs that do not change in relation to … soho food cups lidsWebMay 8, 2024 · Top-quality synthetic oil alone can cost between $20 and $30 for a five-quart bottle, so don't be surprised if an oil change with filter repacement runs $75. To confirm … slp technologies bangaloreWebOil used in manufacturing equipment Variable Plastic Variable Property taxes, $165,000 per year on factory building and equipment Fixed Salary of plant manager Fixed Cost of labor for hourly workers Variable Packaging Variable Factory cleaning costs, $6,000 per month Fixed Metal Variable slp teach rhyming identificationWebThe company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for April Variable Fixed Element per Actual Well Element Total for per Month Serviced April $3,800$112,900 Employee salaries and wages 41,400 900 69,500 $ 50015,100 $ 30,200 Revenue Servicing … slp technical analysisWebJan 31, 2024 · Published by Jessica Aizarani , Jan 31, 2024. According to a 2024 survey, the average oil producer operating in the Eagle Ford oilfield in the U.S. needed WTI oil … slp teamWebOil changes every 5,000 miles e. Replacement tires f. Insurance costs of $100 per month g. ... If the fixed cost per ball is $3 when the company produces 15,000 balls, ... The concept of relevant range is applicable to both fixed and variable costs. B. slp technical analysis today