{"id":30457,"date":"2024-03-03T09:44:34","date_gmt":"2024-03-03T09:44:34","guid":{"rendered":"https:\/\/academicwritersbay.com\/writings\/water-works-plumbing-company\/"},"modified":"2024-03-03T09:44:34","modified_gmt":"2024-03-03T09:44:34","slug":"water-works-plumbing-company","status":"publish","type":"post","link":"https:\/\/academicwritersbay.com\/writings\/water-works-plumbing-company\/","title":{"rendered":"Water Works Plumbing Company"},"content":{"rendered":"<div><\/div>\n<div><\/div>\n<div>1. Water Works Plumbing Company is a small owner-managed plumbing services company that serves the greater Miami metropolitan area. Identify each of the following costs as either a vari\u00adable, a fixed, or a quasi-fixed cost and give a detailed explanation.<\/div>\n<div><\/div>\n<div>a)\u00a0 Gasoline expense for the service van.<\/div>\n<div><\/div>\n<div>b)\u00a0 Cost of the owner\u2019s time to run the plumbing business.<\/div>\n<div><\/div>\n<div>c)\u00a0 Cost of a complete set of tools needed to be a plumber.<\/div>\n<div><\/div>\n<div>d)\u00a0 Labor expense for an assistant plumber who is hired on an hourly basis and works with the owner-manager of the firm when the owner needs a helper.<\/div>\n<div><\/div>\n<div>e)\u00a0 Monthly lease payment for a drain-line auger, which contractually binds WW Plumbing to pay $75 per month for the next 12 months, regardless of how much or how little the company uses the leased piece of plumbing equipment.\u00a0 Subleasing is prohibited and there will be no refund if the machine is returned before the 12 month period expires.<\/div>\n<div><\/div>\n<div>f)\u00a0 Expense for plumbing service consumables: plumbers\u2019 putty, Teflon tape, pipe lubricant, sandpaper, PVC glue, butane for torch, etc.<\/div>\n<div><\/div>\n<div>2. The production engineers at Impact Industries have derived the optimal combinations of labor and capital.\u00a0 These are the only two inputs used by Impact.\u00a0 The following chart shows the combinations of labor and capital for three levels of output.<\/div>\n<div><\/div>\n<div>Q is the output level.\u00a0 L* is the optimal amount of labor.\u00a0 K* is the optimal amount of capital.\u00a0 The price of labor is $90 per unit.\u00a0 The price of capital is $15 per unit.<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<div>\u00a0 \u00a0 \u00a0Q \u00a0 \u00a0 L* \u00a0 \u00a0 \u00a0K*<\/div>\n<div>\u00a0 120 \u00a0 \u00a0 5 \u00a0 \u00a020<\/div>\n<div>\u00a0 180 \u00a0 \u00a0 7 \u00a0 \u00a0 7<\/div>\n<div>\u00a0 240 \u00a0 \u00a012 \u00a0 \u00a024<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>1. Water Works Plumbing Company is a small owner-managed plumbing services company that serves the greater Miami metropolitan area. Identify each of the following costs as either a vari\u00adable, a fixed, or a quasi-fixed cost and give a detailed explanation. a)\u00a0 Gasoline expense for the service van. b)\u00a0 Cost of the owner\u2019s time to run &#8230; <a title=\"Water Works Plumbing Company\" class=\"read-more\" href=\"https:\/\/academicwritersbay.com\/writings\/water-works-plumbing-company\/\" aria-label=\"Read more about Water Works Plumbing Company\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-30457","post","type-post","status-publish","format-standard","hentry","category-essaywr"],"_links":{"self":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts\/30457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/comments?post=30457"}],"version-history":[{"count":0,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts\/30457\/revisions"}],"wp:attachment":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/media?parent=30457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/categories?post=30457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/tags?post=30457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}