Fixed and variable costs for oil company

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August undefined, 2024

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. 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

How to Calculate Fixed Cost: Fixed vs. Variable Costs

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... 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 … the pink stuff bathroom

Variable Cost vs. Fixed Cost: What

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 WebMay 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 … the pink stuff cleaning paste data sheet

Ch 20 Accounting 281 Flashcards Quizlet

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. 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 … side effects moderna boosterWebFixed 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 … the pink stuff best price

"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 ... " - Fixed and variable costs for oil company

Fixed and variable costs for oil company

WebJan 25, 2024 · A geothermal power plant commissioned in 2024 and with the earliest possible year of operation being 2025 could expect to have fixed costs around 143 U.S. dollars per kilowatt installed per year. 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 …

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WebVariable 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. 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 …

WebFixed element per month: Variable Element per Well Serviced: Revenue $ 4,500: Employee salaries and wages $ 57,200 $ 1,100: Servicing materials $ 600: Other expenses $ 31,000 WebThe company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed cost per month Variable cost per well Revenue $4,700 Salaries and Wages $41,300 $1,000 Service Materials $600 Other Expenses $40,200

WebOil 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 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 …

WebThe 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 …

WebFeb 23, 2024 · Variable costs: Fuel and oil. Maintenance (e.g., maintenance labor, parts airframe/engine/avionics, engine restoration, thrust reverser overhaul, propeller … the pink stuff companyWebTotal 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 … the pink stuff cream cleaner data sheetWebMar 22, 2024 · Break-Even Units = Total Fixed Costs / (Price per Unit - Variable Cost per Unit) To calculate the break-even analysis, we divide the total fixed costs by the contribution margin for each unit sold ... the pink stuff cleaning paste sdsWebMar 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 … the pink stuff creamWebDo 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 … side effects mild concussionWebOil 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. the pink stuff cleaning kitWebNov 9, 2024 · Fixed costs are the costs associated with your business's products or services that must be paid regardless of the volume you sell. One example of a fixed cost is … the pink stuff cleaning paste reviews