text
stringlengths 21
388
|
|---|
[163.22s -> 176.88s] To make it a dominant 7th chord, lower the 7th from the note E natural to E flat. To make it a minor 7th chord, lower the 3rd from the note A natural to A flat. To make it a half diminished 7th chord, lower the 5th from the note C natural |
[176.88s -> 190.90s] to C flat. To make it a full diminished chord, lower the seventh with the note E flat to E double flat. And here is what you have learned today. Keep practicing, and I will see you in the next video. |
[195.95s -> 207.89s] If you liked the video, please hit like. If you would like to see more videos, please subscribe to my channel. You can also leave a comment or a question in the comment section below. |
[0.85s -> 5.65s] In this video you will learn how to read this. |
[32.27s -> 36.85s] Inverting a chord is not simply rearranging the notes of the chord. |
[37.42s -> 49.66s] This chord is still in root position because the root of the chord is the lowest note. In an inverted chord, the root is not the lowest note. To make this chord into a first inversion, |
[49.66s -> 63.82s] move the root up an octave making the third of the chord the lowest note. This chord will still be in first inversion as long as the third of the chord is the lowest note, even when we move or double the notes in the chord. |
[64.91s -> 72.53s] To make this chord into a second inversion, move the third of the chord up an octave, making the fifth of the chord the lowest note. |
[74.42s -> 88.37s] Inversions are notated using numbers called fingered bass. The numbers indicate the number of scale steps above the bass note of the chord. In the first inversion of the chord, the intervals above the bass are a sixth and a third. |
[88.37s -> 103.18s] The first inversion is notated by just using the number 6. In the second inversion, the intervals above the bass note are a 6th and a 4th. The second inversion is notated by using the number 6 and a 4. |
[103.66s -> 112.91s] An often used notation for chord inversions in jazz, pop, and rock is to write the name of the chord followed by a forward slash and then the name of the bass note. |
[113.58s -> 121.20s] The chord symbol F slash A would be a first inversion F major chord, with the note A being the lowest note. |
[122.32s -> 134.99s] For seventh chords, there are three inversions. Let us start with a C dominant seventh chord in root position. To make this chord into a first inversion, move the root up an octave making the third of the chord the lowest note. |
[135.25s -> 145.62s] The intervals above the bass are a 6th, a 5th, and a 3rd. The first inversion of the 7th chord is notated by just using the numbers 6 and 5. |
[146.32s -> 153.01s] To make this chord into a second inversion, move the third up an octave, making the fifth of the chord the lowest note. |
[154.06s -> 166.78s] The intervals above the bass are a 6th, a 4th, and a 3rd. The second inversion of a 7th chord is notated by just using the numbers 4 and 3. To make this chord into a 3rd inversion, |
[166.78s -> 171.12s] Move the fifth up an octave, making the seventh of the chord the lowest note. |
[172.18s -> 186.48s] The intervals above the bass are a sixth, a fourth, and a second. The third inversion of a seventh chord is just notated by using the number two. And here is what you have learned today. |
[186.93s -> 190.90s] Keep practicing, and I will see you in the next video. |
[196.02s -> 207.89s] If you liked the video, please hit like. If you would like to see more videos, please subscribe to my channel. You can also leave a comment or a question in the comment section below. |
[0.00s -> 13.07s] Hello and welcome to the session in which we will discuss cost behavior. This topic is important whether you are taking managerial accounting, the CPA exam, cost accounting, or the CMA exam. |
[13.07s -> 24.50s] We have to understand how costs behave because when we make costing decision, it's important to know whether the cost is a variable cost, a fixed cost, or a mixed cost. |
[24.50s -> 37.02s] Before we start, I would like to remind you whether you are an accounting student or a CPA candidate, I strongly suggest you take a look at my website, farhatlectures.com. No, I don't replace your CPA review course. |
[37.02s -> 44.02s] I can be a useful addition to your CPA review course. I can be supplemental material to your CPA review course. |
[44.02s -> 54.53s] My course is designed to mirror image your CPA review course. The risk of trying me is one month of subscription. The potential gain is passing the actual CPA. |
[54.53s -> 61.97s] And if not for anything, take a look at my website to find out how well or not well your university doing on the CPA. |
[61.97s -> 75.86s] I also have accounting lectures for intermediate accounting, auditing, managerial accounting, cost taxation. Also, I have the AICPA previously released questions and my courses are there. |
[75.86s -> 82.02s] to mirror image your CPA review course. So if you're taking an audit course with Roger or a reg course with Glymph. |
[82.02s -> 95.79s] my course are designed to help you with these courses hand in hand or if you're taking a course with backer if you haven't connected with me on linkedin please do so take a look at my linkedin recommendation like this recording share it with other connect with me on instagram facebook |
[95.79s -> 99.97s] Twitter, and Reddit. So let's talk about how costs behave. |
[99.97s -> 114.26s] so how costs behave we have three three types of cost behaviors and i have to let you know up front that in the real world those like for example you may not have a 100 variable cost or 100 fixed mostly they are variable within a |
[114.26s -> 127.41s] range, fixed within a range, mostly mixed. But for educational purposes, for knowledge purposes, we're going to assume that certain cost is a variable cost. What is a variable cost? From the word variables, it means it varies. |
[127.41s -> 138.16s] And how does it varies? It varies in total and direct proportion to changes in the level of activity. The best example I can give you to illustrate this concept. |
[138.45s -> 152.61s] the old cell phones cell phone plans when the cell phone was was becoming a more popular a common household item here's what would happen you would |
[152.61s -> 165.89s] pay for the phone and you will pay based on the usage so if you did not use the phone if you use the phone zero minutes okay so this is let's assume this is the minutes |
[165.89s -> 179.76s] and this is the dollar and i'm gonna say i'm gonna say one minute per dollar to make it easy so if you use it one minute you'll pay one dollar okay if you use it two minutes you'll pay two dollars |
[179.76s -> 192.99s] If you used it three minutes, so this is one, two, three minutes. And this is how it used to be, actually. Believe it or not, maybe some of you don't remember this. Three minutes, you would pay $3. This is the dollar. Now we can draw a graph. |
[192.99s -> 206.14s] and it would look something like this so as your usage goes up as your usage goes up your total this is your total goes up in proportion to the level of activity |
[206.14s -> 216.67s] So this is an example of total variable cost changing in proportion to the level of activity. Okay, hopefully this make sense. |
[216.67s -> 227.34s] In the real world, you might have cost drivers such as unit produced. For example, for each unit produced, you spend, you know, $4. If you produce two units, you will spend... |
[227.34s -> 241.78s] eight dollars so on and so forth it could be based on machine hours what's driving your cost again the cell phone is the cell phone usage for example if you have a vehicle that's delivering it's miles and miles driven if you're using a vehicle to produce |
[241.78s -> 246.96s] or it could be labor hours. So those are all cost drivers. |
[247.38s -> 260.18s] The variable cost per unit, you have to understand now what we are discussing. The variable cost per unit is constant. And if we go back to this example to my cell phone, I said for each one minute. |
[260.78s -> 273.65s] You pay a dollar. So the cost per unit, the variable cost per unit is variable. Why is it variable? Well because for every unit |
[273.65s -> 285.36s] The cost is always a dollar. The cost is always the same. Therefore, it would look something like this. Per unit. Per one single unit. Per one single unit. |
[285.36s -> 299.44s] So per one single unit, you'll have a flat line. But in total, it varies in total. It increases in total. But per unit, it's $1 per unit. So this is the variable cost. |
[299.44s -> 308.18s] Let's talk about the fixed cost. And if we always when we say the fixed cost, we say the fixed cost within the relevant range. And I'll explain what do I mean by the relevant range. |
[308.18s -> 319.44s] in a moment. But what is a fixed cost? Well, as the terminology implies, it's fixed, fixed regardless of the activity, again, within a relevant range. A cost cannot be fixed forever. |
[319.44s -> 325.07s] For example, if you are renting a building, let's assume you are operating a building and you are renting that building. |
[325.42s -> 339.04s] And let's assume you are paying $10,000 rent per month. And that $10,000 is for 1,000 square feet. Okay, so $10,000. |
[339.04s -> 348.16s] to rent 1000 square feet. So simply put, as long as you are within 1000 square feet, you only have to pay $10,000. |
[348.16s -> 359.55s] Okay, as long as you are that. But let's assume you are expanding your operation and now you need more space, more than 1,000 feet. The next thing is you cannot rent, for example, five square feet. |
[359.55s -> 372.75s] feet you have to rent it goes from 1000 to 2000 so what we say is now the the fixed cost jumped so since you need an additional 1000 now you have to pay we're going to say it's |
[372.75s -> 386.27s] proportional we have to pay twenty thousand so what's happening here the relevant range of the activity is flat within a relevant range so this is this is flat up to one thousand square feet |
[386.27s -> 395.58s] Then if you're going to go up to 2000, then it's going to jump and it's going to stay flat to a certain degree. So the fixed cost always fixed within. |
[395.58s -> 409.34s] range so the cost remain constant regardless of the level of activities again within a relevant range within a relevant range it cannot be fixed forever so in total the cost is fixed |
[409.34s -> 422.74s] So in total, let's assume in total, so if we look at the graph for the total fixed cost, let's assume we are paying $10,000. So the $10,000 is the same regardless of the |
[422.93s -> 435.09s] activity assuming we're not jumping activity with as long as we are we are within the relevant range the fixed cost is the same what happened to fixed cost per unit well the fixed cost per unit |
[435.09s -> 440.53s] is inversely related what does that mean let's assume we are paying ten thousand dollar |
[441.58s -> 453.81s] as fixed cost fixed cost and we are producing for the sake of simplicity 10 000 unit of xyz if i ask you what is your fixed cost per unit you would say 10 000 divided by |
[453.81s -> 463.70s] a thousand your fixed cost per unit is a dollar let's assume we were very productive and we produced twenty thousand units for that month |
[464.05s -> 477.97s] And we're still paying, remember, the fixed cost is 10,000. If we produce 20,000 units, now our fixed cost per unit is only half, 50 pennies. So what happens to our fixed cost per unit? As we produce more... |
[477.97s -> 489.23s] our fixed cost per unit goes down our fixed cost per unit so per unit it's inversely related however in total in total again we are dealing within the relevant range in total |
[489.23s -> 503.36s] it stays the same ten thousand so you need to understand how variable costs behave in terms of in total it varies in total it stays constant per unit fixed cost |
[503.36s -> 511.25s] it stays total in fixed cost and total it's fixed per unit it's inversely related and we'll see an example to illustrate this |
[511.25s -> 518.91s] these concepts now who wants to guess what a mixed cost would be well a mixed cost will have both the component of a fixed will have a both |
[518.91s -> 532.80s] a fixed component and a variable component that's why it's called mixed and most costs in the real world they will take the form of a mixed cost there's nothing 100 variable there's not nothing 100 fixed so simply put |
[532.80s -> 546.38s] If we want to express this algebraically, we can say that the total cost Y, the total cost, the total mixed cost Y equal to the fixed component. So A representing the fixed cost. |
[546.38s -> 559.82s] or we're going to see this with or the y intercept or you know fixed cost we're going to see it on the graph a is fixed cost plus b is the variable cost b is the variable cost and x is the |
[560.59s -> 569.46s] activity. So the total cost equal to the fixed cost plus the variable cost. So your cost consists of a fixed component and a variable component. |
[569.46s -> 583.22s] And this is what it looks like on a graph. For example, here, and this is this is illustration of your utility bill. Notice here, even if you did not consume any kilowatt hours, zero kilowatt hours, you're still paying. |
[583.22s -> 595.50s] let me change the color here you're still paying a certain amount and we're going to assume you pay 40 for your utility bill even if you don't do anything if you don't consume you were away everything was shut off |
[595.60s -> 609.26s] As long as you have your utility active at the house, you pay $40, regardless, even if you consume zero kilowatt. Then what happened is this. For each kilowatt you consume, we're going to charge you. |
[609.30s -> 623.55s] three pennies per kilowatt okay now this is the variable component why because it's varying per the activity here is the consumption of the kilowatts so let's assume you for a particular month |
[623.55s -> 635.79s] you consumed two thousand kilowatts two thousand kilowatts for a particular month how do you find your total cost well you have to pay forty dollars that's a that's your fixed cost plus |
[635.79s -> 648.54s] plus B, your variable cost is 0.03, three pennies. And for that particular month, we said you consumed 2000 kilowatt. |
[648.54s -> 661.82s] Now we can find, so this is A is the fixed cost, and this part here is the variable cost. If we solve this, we find out that your total cost, which is Y, total cost is Y, is... |
[661.82s -> 671.66s] Now what we can do, we can start to estimate your cost for any level of activity. For example, if we say your activity goes up to $3,000. |
[671.66s -> 685.02s] we can predict your total cost if your activity goes down to 500 kilowatt we can predict your total cost so this is the cost formula which is your total cost equal to your fixed component |
[685.02s -> 691.92s] plus your variable component. Your fixed component is the y-intercept. This point here is the y-intercept. |
[692.69s -> 707.14s] Now let's take a look at an example to see if we can solve this problem. Ronald Company recorded sales volume of 50,000 units. Its total fixed costs are 50,000. If I ask you right now, what is the fixed cost per unit? That's easy. |
[707.14s -> 720.21s] Fixed cost is $50,000 of fixed cost and we produce 50,000 units. We would say the fixed cost per unit is $1. The variable cost per unit is $70,000. This is the variable cost. |
[720.21s -> 731.06s] And the relevant range is 40 to 60. So we are within the relevant range. Now, if I ask you, what is the variable cost per unit? Well, you could compute variable cost per unit. You can take 70,000. |
[731.92s -> 744.10s] divided by 50,000 unit and let's see how much would that be and we can find if I take $70,000 divided by 50,000 unit |
[744.10s -> 748.69s] We know this is equal to $40. This is $40. |
[748.94s -> 760.96s] and i can tell you if i ask you right now what is the total cost per unit you would see the total cost per unit is 2.40 okay what would be the total expected cost per unit if ronald were to sell |
[760.96s -> 775.38s] rather than 50, sell 60,000 unit. My first question to you is this, would cost per unit goes up or would cost per unit goes down? I hope you can answer this question immediately. The cost per unit should go down. |
[775.38s -> 787.84s] Why? Because you are within the relevant range. And now you are selling or you are producing or selling 60,000 units versus 50. So as you produce more, this $1. |
[787.84s -> 800.05s] This $1 should go down. This fixed cost per unit should go down. For example, if I know it's $2.40, I can immediately eliminate. |
[800.05s -> 807.54s] 240 i can eliminate 244 and i'm down to two options either it must be c or d now i'm going to have to use my formula |
[807.60s -> 821.86s] to compute my total cost per unit well my fixed component is fixed it's not going to change so that's going to be fifty thousand dollars that's a in the formula the fixed cost plus b of b of x well the the |
[821.86s -> 833.90s] Variable cost per unit. Remember the variable cost per unit is constant. So this $1.40 is constant. So 1.4 times 60. |
[833.90s -> 842.82s] So that's going to give me my total cost. Let's do the computation and see how much do we get as total cost. So if we take $1.40. |
[842.82s -> 856.50s] which is the variable cost per unit which is we computed earlier times 60 000 unit that's going to give us 84 000 plus the fixed cost of 50 000 that's going to give us total of 134 000 |
[856.69s -> 864.16s] Now 134,000 and we're going to split it or allocate it over 60,000 unit. |
[864.16s -> 875.71s] And now, again, as I said, we are ready to do the computation. If we take 134 divided by 60,000, and it's $2.23. $2.23. |
[875.71s -> 885.26s] $22.23. As I told you, it's going to be less than 240, which we predicted this. Therefore, the answer is 223. |
[885.26s -> 895.44s] Now, if you're looking to practice additional exercises in addition to viewing these lectures, you can go to my website, forhatlectures.com. I don't replace your CPA review course. |
[895.44s -> 907.47s] I provide alternative resources. I can help you understand the material better. I can provide you with supplemental resources. This is what I can do. Invest in your career. Invest in yourself. |
[907.47s -> 917.94s] Don't shortchange yourself. The CPA is a lifetime investment. Good luck. Study hard. And of course, stay safe and take a look at my course catalog. Good luck. |
Subsets and Splits