1. What is the equivalent unit of production for direct materials? 2. How much is the amount to be charged against current income immediately? 3. How much is the total cost of units transferred out?

Q: What is equivalent production? Explain in terms of its effect on computed unit costs.

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: What is the Equivalent Annual Operating Cost?

A: Equivalent annual cost (EAC) is the yearly expense of owning, managing, and operating an asset over…

Q: What are life-cycle costs? How do these costs relate to the production life cycle?

A: Life cycle cost is the summation of all costs related to a product, structure, system, or service…

Q: Which of the following ratios indicates the percentage of each sales dollar that is available to…

A: The objective of the question is to identify the correct ratio that indicates the percentage of each…

Q: What is the effect of an increase in activity on the followingitems?a. Total variable costs.b.…

A: Cost behavior: Cost behavior is the relationship between cost and activity and it is relevant to the…

Q: What is the difference between product costs and period costs?

A: Step 1 Costs incurred for the production of goods is referred to as product cost.  Direct materials,…

Q: What are the cost associated with production? (COSTING METHOD)

A: The cost associated with production includes costs like direct material costs, direct labor costs,…

Q: On the cost-volume-profit graph, the area between the total cost line and the sales line before the…

A: on the cost volume profit graph, the area between the total costline and the sales line before the…

Q: how do I find direct cost per unit

A: Direct Cost A direct cost is a price that is directly associated with the production of particular…

Q: when total contribution margin equals total fixed cost this indicates operating income

A: The contribution margin is described as that amount which is computed after reducing variable costs…

Q: Spencer Chemical Corporation produces an oil-based chemical product which it sells to paint…

A: Hi studentSince there are multiple questions, we will answer only first question.Variable costs are…

Q: What are the differences between a product cost and a period cost

A: In accounting we say that costs are often product costs or period costs. The difference between the…

Q: What is the relationship between total carrying cost and totalordering cost at the EOQ?

A: It indicates an inverse relationship between the cost of ordering and the cost of holding at…

Q: calculate the percentages? And how did you calculate the cumulative costs

A: In Order to calculate the cost associated all the cost that are associated or added up any order to…

Q: Throughput margin is equal to revenues minus direct materials and direct labor of the cost of goods…

A: Throughput margin = sales revenue - material cost .

Q: 10. Total of all direct costs is termed as A. prime cost B. works cost C. cost of sales D. cost of…

A: Option a: This option is correct because prime cost in accounting refers to the total direct costs…

Q: Which of the following formulas is used to calculate the contribution margin ratio? (Sales − Fixed…

A:

Q: Which of the following is correct for total cost of product ?     Material + Labor + FOH…

A: Total cost of product : Total cost is derived by adding costs of Material , Labor and Factory…

Q: What is the standard cost income statement? Give an example?

A: Meaning of Standard cost income statement:A standard cost is the estimated cost of production based…

Q: why does fixed costs remain the same in total dollar amount but increases per unit as the level of…

A: Fixed costs means those costs which remain fixed in total dollar amount as the level of activity…

Q: Which of the following cost per unit remains fixed in respect of the volume of production. a.…

A: Some cost do not change with the level of activity of production.

Q: Which one of the following is defined, at any given sales volume, as the ratio of the total…

A: Contribution margin is Sales less variable expenses at any given volume. Operating profit is…

Q: What is the difference between a product cost and a period cost? Give three examples of each. 2.…

A: The costs can be classified as classified as product cost, period cost, direct costs or indirect…

Q: What is the purpose for determining the cost per equivalent unit?

A: Equivalent units of production are applied to the work-in process inventory at the end of an…

Q: What is the high-low method used to estimate? a. variable costs and production capacity b. total…

A: The high-low method is a method using which the variable cost per unit and total fixed cost is…

Q: Which one of the following is another name for product costs? Select one: a. Direct costs b. Period…

A: Product cost means the cost of producing one unit of finished goods.

Q: do you determine the production

A:

Q: What is the difference between the methods of calculating cost of goods, periodic vs perpetual?

A: Inventory: Inventory refers to the goods purchased or material purchased and manufactured which is…

Q: a) Using the equation method, calculate the normal capacity of the business. b) Calculate: i) the…

A: Following information has been given about the company:   Selling price per unit…

Q: 1. The amount by which an item contributes towards covering fixed cost and providing for profit is…

A:

Q: If a company makes two products , R1 and R2, what is the fomula for the weighted-average unit…

A: Contribution margin is the difference between sales revenue earned from a particular product and…

Q: Can you label revenue, loss, total costs, dollars, variable cost, and fixed cost on the provided…

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining how any type of…

Q: Define the term Annual operating cost:?

A: MEANING OF OPERATING COST The sum total of operating expenses and cost of goods sold is called…

Q: Which of the following summarizes the weighted average cost flow assumption? O Weighted average…

A: The weighted average cost flow assumption is a method of assigning costs to inventory and the cost…

Q: Hi,   How do you calculated variable production cost per unit?

A: Answer:Variable production cost per unit is calculated by dividing Total variable production costs…

Q: For each of the following statements, indicate whether it is true, false, or uncertain. a. A cost is…

A: Total cost is the summation of fixed costs and variable costs incurred in the process of production.…

Q: Which of the following best describes a fixed cost?   A. It may only change in total when such…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: The difference between total sales in dollars and total variable expenses is called: a. net profit…

A: Contribution Margin Contribution Margin is the amount of revenue remaining  after variable costs to…

Q: The direct costs of materials that change with the number of units produced is an example of a fixed…

A: False, the direct cost of materials is not an example of fixed production cost because it is a…

Q: Which of the following costs is most Ilikely to be classlfled as a fixed cost? Multiple Cholce…

A: Fixed costs are costs which do not vary with production and remains fixed in total .On the other…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.