Problem: Write an article based on this summary: Measure variable cost trends. Use variable cost proportion to evaluate risk. Compare companies in the same industry. Conduct break-even analysis.

Answer: In most cases, increasing production will make each additional unit more profitable. This is because fixed costs are now being spread thinner across a larger production volume. For example, if a business that produces 500,000 units per years spends $50,000 per year in rent, rent costs are allocated to each unit at $0.10 per unit. If production doubles, rent is now allocated at only $0.05 per unit, leaving more room for profit on each sale. So, as revenues increase, cost of goods sold should also increase, but at a slower rate (as ideally variable cost per unit stay constant and fixed cost per unit declines). To determine whether or not variable costs are staying constant, divide total variable cost by revenue. This will give you an idea of how much of costs are variable costs. You can then compare this figure to historical variable cost data to track variable cost per units increases or decreases. For example, if total variable costs were $70,000 one year and $80,000 the next while revenues were $1,000,000 and $1,150,000, respectively, you could see that variable costs remained fairly stable through those two years at $70,000$1,000,000{\displaystyle \$70,000\div \$1,000,000}, or 7{\displaystyle 7} percent, and $80,000$1,150,000{\displaystyle \$80,000\div \$1,150,000}, or 6.96{\displaystyle 6.96} percent of revenue, respectively). By comparing the percentage of variable costs to fixed costs for a unit, you can determine the proportion of each type of expense. This can be calculated by dividing variable costs per unit by total per-unit cost using the formula vv+f{\displaystyle {
rac {v}{v+f}}} where v and f are the per-unit variable and fixed costs, respectively. For example, if the fixed costs per unit is $0.10 and the variable cost per unit is $0.40 (for a $0.50 total cost per unit), then 80 percent of the unit cost is variable cost ($0.40/$0.50=0.8{\displaystyle \$0.40/\$0.50=0.8}). As an outside investor, you can use this information to predict potential profit risk. If a company primarily experiences variable costs in production, they may have a more stable cost per unit. This will lead to a steadier stream of profit, assuming steady sales. This is true of large retailers like Walmart and Costco. Their fixed costs are relatively low compared to their variable costs, which account for a large proportion of the cost associated with each sale. However, a company with a higher proportion of fixed costs would more easily be able to take advantage of economies of scale (greater production leading to lower per-unit costs). This is because revenues would increase much faster than expenses. For example, a computer software company would have fixed costs associated with product development and support staff, but would be able to scale up software sales without incurring significant variable cost increases. That said, during slumping sales, a company that relied primarily on variable costs would be more easily able to scale back production and remain profitable, while a company with primarily fixed costs would have to find a way to deal with much higher per-unit fixed costs. A company with high fixed costs and low variable cost also has production leverage, which magnifies profits or loss depending upon revenue. Essentially, sales above a certain point are much more profitable, while sales below that point are much more expensive. Ideally, the company should strive to strike a balance between risk and profitability by adjusting their fixed and variable costs. Calculate variable cost per unit and total variable cost for a given company. Then, find data on the average variable cost for that company's industry. This can give you a standard of comparison by which to judge the first company. Higher per-unit variable costs may suggest that a company is less efficient than others, whereas a lower per-unit variable cost might represent a competitive advantage. A higher than average per-unit cost suggests that a company uses a larger amount of or spends more on resources (labor, materials, utilities) to produce goods than their competitors do. This can represent low efficiency or expensive resources. In either case, the company will not be as profitable as its competitors unless it can reduce its expenses or raise its prices. On the other hand, a company that is able to produce the same goods at a lower cost realizes a competitive advantage by being able to undercut the rest of the market on price. This cost advantage could be due to cheaper resources, cheaper labor, or greater manufacturing efficiency. For example, a company that is able to get cotton at a lower price than their competitors could produce shirts at a lower variable cost and thus charge a lower price for them. Publicly traded companies provide their financial statements publicly either through their websites or the Securities and Exchange Commission (SEC). Variable cost information can be figured out by studying their income statements. Variable costs, if known, can be combined with fixed costs to carry out a break-even analysis on a new project. A manager can scale up the number of units produced and estimate the fixed and variable costs for production at each step. This will allow them to see which level of production, if any, are most profitable. For example, if your company is planning to produce a new product that requires an initial investment of $100,000, you would want to know how many of that product you would need to sell to regain your investment and earn a profit. Doing so would require adding the investment and other fixed costs together with variable costs and subtracting them from revenue at various production levels. You can calculate a break even point using the following formula: Q=FPv{\displaystyle Q={
rac {F}{P-v}}}. In the formula, F and v are your fixed and per-unit variable costs, respectively, P is the selling price of the product, and Q is the break-even quantity. For example, if other fixed costs over the course of production total $50,000 (in addition to the original $100,000 for a total of $150,000 in fixed costs), variable costs are $1 per unit, and the product sells for $4 per unit, you would calculate a break point by solving Q=$150,000$4$1{\displaystyle Q={
rac {\$150,000}{\$4-\$1}}}, which yields a result of 50,000 units.

Problem: Write an article based on this summary: Utilize a price guide. Search collector's books. Ask your librarian for help.

Answer: There are many well-established guide books for various collectible items. Search your local library for price guides to determine the value of your item. For example, Kovels' Antiques & Collectibles Price Guide is a collection of recent prices paid for items in at least 700 categories at auctions, shops, shows, flea markets, and online. Other titles include: A Guide Book of United States Coins Scott Standard Postage Stamp Catalogue The Standard Catalog of Baseball Cards Beckett Almanac of Baseball Cards & Collectibles Collector's books can provide detailed information on items such as size, condition, manufacturer's marks, etc. These reference books may also contain pricing information based on similar items. Check your local library or book store for collector's books specific to your needs. Used bookstores are another great resource. You may also find digital books online. A librarian is often a good source of general information, and can also be very helpful in leading you to the right books or reference materials online.

Problem: Write an article based on this summary: Stick the tension lever into the bottom of the lock. Push the lever counterclockwise to apply tension. Stick the pick into the lock and feel for the pins. Push down on your lever until you hear a click. Lift the rest of the pins in the door lock. Turn the tension lever counterclockwise to open the door.

Answer:
Take the shorter, bent end of the tension lever and stick it into the bottom hole in your door lock. The tension lever will hang down the front of your doorknob. You'll use the lever to maintain tension on the lock as you pick it and as a way to rotate the doorknob once you've picked the lock. Maintaining tension on the lever will rotate the barrel in the lock which will allow you to lift each individual pin. Push the lever until you feel some tension. You do not need to use a lot of force. Keep tension on the lock as you pick it. This tension is necessary or the pins will just drop back down into the barrel, keeping the knob locked. Stick the slightly bent end of the pick into the lock so that the tip is facing upwards. The pins sit on the top portion inside of the keyhole. Feel for the pins with your pick by pushing down on the handle of the pick while it's in the hole. Press down on the handle of the pick to push the pins up. Most traditional doorknobs will have 5 or 6 pins. A key pushes the pins up in the exact position they need to line up with the barrel, thus unlocking the door. Some of the pins will slide up with ease as you push down on it with your pick, while others will have some resistance. Pins that have resistance are known as seized pins. Concentrate on the pins with a lot of resistance first. Locate a pin that's hard to push up, and push down slowly on the handle of your pick until you hear a click. The click is the sound of the pin setting on the barrel. You need to set the seized pins first before setting the other pins in place. Continue feeling for the pins with your pick and press down on the handle of the pick to lift up every pin. Once every pin is set on top of the barrel, the door will be unlocked. Grab the end of the tension lever and turn it like a key until the door is unlocked. Your door is now unlocked! On most doors, you have to turn the tension lever counterclockwise to open the door but some doorknobs may differ. The tension lever will only rotate fully if the pins are correctly set on the barrel of the lock.